Eightco (NASDAQ:ORBS) Releases Earnings Results

Eightco (NASDAQ:ORBS) announced its quarterly earnings data on Friday. The company reported ($0.32) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $7.56 million for the quarter. Eightco had a negative net margin of 794.44% and a negative return on equity of 165.41%.

Eightco Stock Performance

Eightco stock traded down $0.07 during trading hours on Friday, reaching $0.82. The company had a trading volume of 13,954,946 shares, compared to its average volume of 15,160,656. The stock has a 50-day simple moving average of $0.94. The stock has a market cap of $308.13 million, a price-to-earnings ratio of -0.58 and a beta of 1.98. Eightco has a 12-month low of $0.74 and a 12-month high of $83.12.

Hedge Funds Weigh In On Eightco

Large investors have recently bought and sold shares of the stock. PEAK6 LLC purchased a new position in Eightco in the 4th quarter worth approximately $26,000. LPL Financial LLC purchased a new position in Eightco in the 4th quarter worth approximately $28,000. Monograph Wealth Advisors LLC purchased a new position in Eightco in the 4th quarter worth approximately $33,000. Barclays PLC purchased a new position in Eightco in the 4th quarter worth approximately $33,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in Eightco in the 4th quarter worth approximately $35,000. 12.85% of the stock is owned by hedge funds and other institutional investors.

Eightco Company Profile

Eightco Holdings Inc provides bitcoin mining equipment and co-location services. It also manufactures and sells container boards, corrugated products, and specialty paper products in North America. The company was incorporated in 1966 and is headquartered in Safety Harbor, Florida.