Eightco (NASDAQ:ORBS) CEO Kevin O'donnell Purchases 50,000 Shares of Stock

Key Points

• CEO Kevin O'Donnell purchased 50,000 Eightco shares at an average price of $0.81, investing $40,500 and increasing his ownership by 4.01% to 1,296,485 shares.
• Eightco shares fell 0.7% to $0.80 in Monday trading. The company reported quarterly revenue of $2.07 million and earnings per share of $0.04, but continued to show sharply negative profitability metrics.
• Institutional investors own 12.85% of Eightco, while analyst sentiment remains negative: the stock carries an average “Sell” rating, with one analyst rating it Sell.

Eightco Holdings Inc. (NASDAQ:ORBS - Get Free Report) CEO Kevin O'donnell bought 50,000 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average cost 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. This trade represents 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 link.

Eightco Trading Down 0.7%

Shares of Eightco stock traded down $0.01 during trading on Monday, reaching $0.80. The company's stock had a trading volume of 1,655,541 shares, compared to its average volume of 17,630,141. Eightco Holdings Inc. has a fifty-two week low of $0.57 and a fifty-two week high of $83.12. The firm has a market cap of $343.39 million, a PE ratio of -3.63 and a beta of 2.09. The company has a 50-day moving average price of $0.71 and a two-hundred day moving average price of $0.89.

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

Institutional Investors Weigh In On Eightco

A number of institutional investors have recently added to or reduced their stakes in the company. PEAK6 LLC acquired a new stake in shares of Eightco during the fourth quarter valued at about $26,000. Yorkville Advisors Global LP bought a new stake in shares of Eightco in the 1st quarter worth approximately $27,000. LPL Financial LLC bought a new position in Eightco during the 4th quarter worth $28,000. Caerus Investment Advisors LLC acquired a new stake in Eightco in the first quarter worth $29,000. Finally, A. D. Beadell Investment Counsel Inc. lifted its stake in Eightco by 261.6% in the second quarter. A. D. Beadell Investment Counsel Inc. now owns 45,200 shares of the company's stock valued at $31,000 after buying an additional 32,700 shares during the last quarter. Hedge funds and other institutional investors own 12.85% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on ORBS shares. Weiss Ratings restated a "sell (e+)" rating on shares of Eightco in a research report on Tuesday, June 9th. Wall Street Zen upgraded shares of Eightco from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Eightco currently has an average 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.

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