Compass Financial Management LLC Purchases Shares of 2,380,180 Eightco Holdings Inc. $ORBS

Compass Financial Management LLC purchased a new position in shares of Eightco Holdings Inc. (NASDAQ:ORBS) during the second quarter, HoldingsChannel reports. The institutional investor purchased 2,380,180 shares of the company’s stock, valued at approximately $1,655,000.

Several other hedge funds have also made changes to their positions in the business. PEAK6 LLC purchased a new stake in shares of Eightco in the fourth quarter valued at $26,000. Yorkville Advisors Global LP purchased a new position in Eightco during the first quarter worth about $27,000. LPL Financial LLC purchased a new position in Eightco during the fourth quarter worth about $28,000. Caerus Investment Advisors LLC acquired a new stake in Eightco in the 1st quarter worth about $29,000. Finally, A. D. Beadell Investment Counsel Inc. boosted its stake in Eightco by 261.6% in the 2nd quarter. A. D. Beadell Investment Counsel Inc. now owns 45,200 shares of the company’s stock worth $31,000 after buying an additional 32,700 shares during the last quarter. Institutional investors and hedge funds own 12.85% of the company’s stock.

Eightco Stock Down 6.8%

Shares of NASDAQ ORBS opened at $0.90 on Friday. Eightco Holdings Inc. has a 52-week low of $0.57 and a 52-week high of $83.12. The firm has a fifty day moving average of $0.71 and a 200-day moving average of $0.87. The stock has a market capitalization of $388.35 million, a PE ratio of -4.11 and a beta of 2.13.

Eightco (NASDAQ:ORBS) last released its quarterly earnings data on Friday, August 7th. The company reported $0.04 EPS for the quarter. The business had revenue of $2.07 million during the quarter. Eightco had a negative return on equity of 78.14% and a negative net margin of 1,260.96%.

Insider Transactions at Eightco

In other news, CEO Kevin O’Donnell purchased 50,000 shares of the stock in a transaction on Friday, August 28th. The stock was purchased at an average price of $0.81 per share, with a total value of $40,500.00. Following the completion of the transaction, the chief executive officer owned 1,296,485 shares in the company, valued at approximately $1,050,152.85. The trade was a 4.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on ORBS shares. Weiss Ratings restated a “sell (e+)” rating on shares of Eightco in a 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 research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Eightco Company 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.