Eightco (NASDAQ:ORBS) Stock Price Down 4.9% – What’s Next?

Eightco Holdings Inc. (NASDAQ:ORBS)’s stock price fell 4.9% during trading on Wednesday . The company traded as low as $2.56 and last traded at $2.72. 708,754 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 2,299,055 shares. The stock had previously closed at $2.86.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ORBS shares. Wall Street Zen downgraded shares of Eightco from a “hold” rating to a “sell” rating in a report on Friday, November 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Eightco in a research report on Monday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Eightco Stock Performance

The firm has a market cap of $555.91 million, a P/E ratio of -1.99 and a beta of 2.25.

Eightco (NASDAQ:ORBS) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.58) earnings per share for the quarter. Eightco had a negative return on equity of 14.76% and a negative net margin of 74.37%.The business had revenue of $5.30 million during the quarter.

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.