Occam Crest Management LP Purchases Shares of 1,780,822 Eightco Holdings Inc. $ORBS

Occam Crest Management LP acquired a new stake in Eightco Holdings Inc. (NASDAQ:ORBS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,780,822 shares of the company’s stock, valued at approximately $3,081,000. Eightco accounts for approximately 2.1% of Occam Crest Management LP’s investment portfolio, making the stock its 17th largest position. Occam Crest Management LP owned approximately 0.90% of Eightco at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. PEAK6 LLC purchased a new stake in Eightco in the fourth quarter valued at approximately $26,000. Barclays PLC purchased a new position in Eightco during the 4th quarter worth approximately $33,000. Marshall Wace LLP acquired a new stake in Eightco during the 4th quarter valued at approximately $118,000. Alyeska Investment Group L.P. purchased a new stake in shares of Eightco in the 4th quarter valued at $21,136,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Eightco in the fourth quarter worth $170,000. Institutional investors and hedge funds own 12.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ORBS shares. Weiss Ratings restated a “sell (e+)” rating on shares of Eightco in a research report on Tuesday, June 9th. Wall Street Zen upgraded shares of Eightco from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Eightco Price Performance

ORBS stock opened at $1.05 on Tuesday. The business’s 50-day moving average is $0.91 and its two-hundred day moving average is $1.35. The firm has a market capitalization of $407.41 million, a P/E ratio of -1.78 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.

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

Insider Activity

In other Eightco news, CEO Kevin J. O’donnell acquired 200,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $0.92 per share, for a total transaction of $184,000.00. Following the acquisition, the chief executive officer owned 1,246,485 shares in the company, valued at $1,146,766.20. The trade was a 19.11% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.44% of the company’s stock.

Eightco 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.