Kevin O’donnell Purchases 200,000 Shares of Eightco (NASDAQ:ORBS) Stock

Eightco Holdings Inc. (NASDAQ:ORBS) CEO Kevin O’donnell purchased 200,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $0.92 per share, with a total value of $184,000.00. Following the completion of the transaction, the chief executive officer owned 1,246,485 shares of the company’s stock, valued at approximately $1,146,766.20. This trade represents a 19.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Eightco Price Performance

ORBS opened at $1.08 on Wednesday. The firm has a market cap of $419.05 million, a P/E ratio of -1.83 and a beta of 2.03. Eightco Holdings Inc. has a 1-year low of $0.72 and a 1-year high of $83.12. The company has a 50 day simple moving average of $0.91 and a two-hundred day simple moving average of $1.34.

Eightco (NASDAQ:ORBS) last posted its quarterly earnings results on Wednesday, April 15th. The company reported ($2.39) earnings per share for the quarter. The firm had revenue of $10.19 million during the quarter. Eightco had a negative return on equity of 111.48% and a negative net margin of 1,095.69%.

Hedge Funds Weigh In On Eightco

Hedge funds have recently modified their holdings of the stock. UBS Group AG purchased a new position in shares of Eightco in the fourth quarter worth $4,528,000. Occam Crest Management LP purchased a new position in shares of Eightco in the fourth quarter worth $3,081,000. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Eightco in the fourth quarter worth $35,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Eightco in the fourth quarter worth $153,000. Finally, Huntleigh Advisors Inc. purchased a new position in shares of Eightco in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 12.85% of the company’s stock.

Wall Street Analysts Forecast Growth

ORBS has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Eightco from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Eightco in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Eightco presently has a consensus rating of “Sell”.

About Eightco

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.