Eightco (NASDAQ:ORBS) Shares Down 5.8% – Should You Sell?

Eightco Holdings Inc. (NASDAQ:ORBS) traded down 5.8% during mid-day trading on Monday . The company traded as low as $0.6250 and last traded at $0.6429. Approximately 8,713,217 shares were traded during mid-day trading, a decline of 44% from the average session volume of 15,618,706 shares. The stock had previously closed at $0.6825.

Analysts Set New Price Targets

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

Eightco Stock Performance

The company has a market capitalization of $257.25 million, a price-to-earnings ratio of -1.12 and a beta of 2.08. The company has a 50 day moving average price of $0.85 and a 200 day moving average price of $1.09.

Eightco (NASDAQ:ORBS) last issued its earnings results on Wednesday, April 15th. The company reported ($2.39) earnings per share (EPS) 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%.

Insider Transactions at Eightco

In related news, CEO Kevin J. O’donnell purchased 200,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $0.92 per share, for a total transaction of $184,000.00. Following the purchase, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.44% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. PEAK6 LLC bought a new stake in Eightco during the fourth quarter worth $26,000. Yorkville Advisors Global LP bought a new position in Eightco during the 1st quarter valued at $27,000. LPL Financial LLC bought a new position in Eightco during the 4th quarter valued at $28,000. Caerus Investment Advisors LLC purchased a new position in Eightco during the 1st quarter worth $29,000. Finally, Monograph Wealth Advisors LLC bought a new stake in shares of Eightco in the 4th quarter worth $33,000. Institutional investors own 12.85% of the company’s stock.

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.