Compass Financial Management LLC Takes Position in Eightco Holdings Inc. $ORBS

Key Points

• Compass Financial Management LLC acquired 2.38 million Eightco shares worth approximately $1.655 million, representing about 0.55% of the company. Institutional investors collectively own 12.85% of Eightco.
• CEO Kevin O'Donnell purchased 50,000 shares at an average price of $0.81, increasing his holdings by 4.01%; corporate insiders own 3.44% of the stock.
• Eightco carries a consensus “Sell” rating, while its latest quarter included $2.07 million in revenue, $0.04 earnings per share, and sharply negative profitability metrics.

Compass Financial Management LLC purchased a new position in shares of Eightco Holdings Inc. (NASDAQ:ORBS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,380,180 shares of the company's stock, valued at approximately $1,655,000. Compass Financial Management LLC owned approximately 0.55% of Eightco at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. PEAK6 LLC acquired a new position in Eightco during the fourth quarter worth $26,000. LPL Financial LLC acquired a new stake in Eightco in the fourth quarter valued at $28,000. Monograph Wealth Advisors LLC acquired a new stake in Eightco in the fourth quarter valued at $33,000. Barclays PLC acquired a new stake in Eightco in the fourth quarter valued at $33,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in shares of Eightco in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 12.85% of the company's stock.

Insider Activity

In other news, CEO Kevin O'Donnell purchased 50,000 shares of the stock in a transaction dated Friday, August 28th. The stock was acquired at an average cost of $0.81 per share, for a total transaction of $40,500.00. Following the completion of the acquisition, the chief executive officer directly owned 1,296,485 shares in the company, valued at $1,050,152.85. This represents a 4.01% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.44% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed 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 research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Sell".

Eightco Stock Performance

Shares of NASDAQ:ORBS opened at $0.90 on Friday. The business's fifty day moving average price is $0.71 and its two-hundred day moving average price is $0.87. The stock has a market cap of $388.35 million, a PE ratio of -4.11 and a beta of 2.13. Eightco Holdings Inc. has a one year low of $0.57 and a one year high of $83.12.

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

Eightco 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.

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