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

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

Eightco Price Performance

Shares of Eightco stock opened at $1.05 on Tuesday. The firm’s fifty day simple moving average is $0.91 and its 200-day simple moving average is $1.35. The stock has a market capitalization of $407.41 million, a price-to-earnings ratio of -1.78 and a beta of 2.03. Eightco Holdings Inc. has a 12 month low of $0.72 and a 12 month high of $83.12.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ORBS shares. Weiss Ratings reissued 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 note on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Eightco currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Eightco

Several institutional investors have recently bought and sold shares of ORBS. PEAK6 LLC acquired a new position in Eightco in the 4th quarter valued at $26,000. Yorkville Advisors Global LP acquired a new position in Eightco in the 1st quarter valued at $27,000. LPL Financial LLC acquired a new position in Eightco in the 4th quarter valued at $28,000. Caerus Investment Advisors LLC acquired a new position in Eightco in the 1st quarter valued at $29,000. Finally, Monograph Wealth Advisors LLC purchased a new stake in shares of Eightco during the 4th quarter worth $33,000. 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.