Eightco (NASDAQ:ORBS) Stock Price Down 5.8% - Should You Sell?

Key Points

• Eightco shares fell 5.8% on Monday, trading as low as $0.6250 amid lighter-than-average volume, before closing at $0.6429.
• Analyst sentiment remains weak: Wall Street Zen downgraded the stock from “strong sell” to “sell,” Weiss Ratings reiterated a sell rating, and MarketBeat shows a consensus rating of “Sell.”
• The company continues to show significant losses, with its latest quarter reporting an EPS of -$2.39 on revenue of $10.19 million, while CEO Kevin J. O'Donnell recently bought 200,000 shares in a move that increased his stake by 19.11%.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Eightco from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 23rd. Weiss Ratings reissued a "sell (e+)" rating on shares of Eightco in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Sell".

Eightco Trading Down 5.8%

The stock has a market capitalization of $249.45 million, a price-to-earnings ratio of -1.09 and a beta of 2.08. The firm has a 50-day moving average of $0.86 and a 200 day moving average of $1.10.

Eightco (NASDAQ:ORBS - Get Free Report) last issued its quarterly earnings data 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 net margin of 1,095.69% and a negative return on equity of 111.48%.

Insider Buying and Selling at Eightco

In other news, CEO Kevin J. O'donnell bought 200,000 shares of the firm'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 purchase, the chief executive officer owned 1,246,485 shares of the company's stock, valued at $1,146,766.20. This trade represents a 19.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.44% of the company's stock.

Institutional Investors Weigh In On Eightco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PEAK6 LLC acquired a new position in Eightco in the 4th quarter worth $26,000. LPL Financial LLC purchased a new position in Eightco in the 4th quarter valued at about $28,000. Monograph Wealth Advisors LLC acquired a new stake in shares of Eightco during the fourth quarter valued at about $33,000. Barclays PLC acquired a new stake in shares of Eightco during the fourth quarter valued at about $33,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Eightco during the fourth quarter worth about $35,000. Hedge funds and other 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.

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