Eightco (NASDAQ:ORBS) Shares Up 17.6% – What’s Next?

Eightco Holdings Inc. (NASDAQ:ORBS) traded up 17.6% on Tuesday . The stock traded as high as $1.17 and last traded at $1.2350. Approximately 8,676,122 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 17,370,006 shares. The stock had previously closed at $1.05.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Eightco from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 18th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Eightco currently has a consensus rating of “Sell”.

Eightco Price Performance

The company has a market cap of $455.56 million, a price-to-earnings ratio of -4.82 and a beta of 2.13. The firm has a 50 day simple moving average of $0.79 and a 200-day simple moving average of $0.86.

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

Insider Activity at Eightco

In related news, CEO Kevin O’Donnell acquired 50,000 shares of Eightco stock in a transaction dated Friday, August 28th. The shares were acquired at an average cost of $0.81 per share, for a total transaction of $40,500.00. Following the completion of the purchase, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eightco

A number of large investors have recently modified their holdings of the company. Compass Financial Management LLC purchased a new position in shares of Eightco in the 2nd quarter valued at about $1,655,000. Mozayyx Management LLC purchased a new position in Eightco during the 4th quarter worth approximately $28,438,000. Occam Crest Management LP purchased a new stake in Eightco in the fourth quarter valued at approximately $3,081,000. SkyView Investment Advisors LLC purchased a new position in shares of Eightco during the second quarter worth approximately $104,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Eightco by 182.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 156,950 shares of the company’s stock worth $109,000 after purchasing an additional 101,350 shares during the period. 12.85% of the stock is owned by hedge funds and other institutional investors.

Eightco Company Profile

Eightco Holdings Inc (NASDAQ: ORBS) is a technology-focused holding company that develops and operates businesses serving e-commerce merchants and the digital economy. Its activities have included inventory financing, fulfillment support, and other infrastructure intended to help online sellers manage product availability and working capital.

Through its Forever 8 business, Eightco has provided inventory funding and related services to e-commerce companies. The model is designed to help merchants purchase inventory, maintain stock levels, and repay financing as products are sold.