Eightco (NASDAQ:ORBS) CEO Kevin O’donnell Buys 200,000 Shares

Eightco Holdings Inc. (NASDAQ:ORBS) CEO Kevin O’donnell bought 200,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost 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 in the company, valued at $1,146,766.20. The trade was a 19.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Eightco Stock Performance

Shares of ORBS opened at $0.88 on Monday. The stock’s 50-day moving average price is $0.91 and its two-hundred day moving average price is $1.36. Eightco Holdings Inc. has a 12 month low of $0.72 and a 12 month high of $83.12. The company has a market capitalization of $340.79 million, a PE ratio of -1.49 and a beta of 2.03.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Eightco from a “strong sell” rating to a “sell” rating in a 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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. PEAK6 LLC acquired a new stake in Eightco during the fourth quarter worth approximately $26,000. LPL Financial LLC acquired a new position in Eightco in the fourth quarter valued at approximately $28,000. Monograph Wealth Advisors LLC bought a new position in shares of Eightco during the 4th quarter worth approximately $33,000. Barclays PLC acquired a new stake in shares of Eightco during the 4th quarter worth approximately $33,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Eightco during the 4th quarter worth approximately $35,000. 12.85% of the stock is owned by institutional investors and hedge funds.

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.