Eightco (NASDAQ:ORBS) Trading Up 0.4% – Should You Buy?

Eightco Holdings Inc. (NASDAQ:ORBS)’s share price was up 0.4% during trading on Thursday . The stock traded as high as $0.81 and last traded at $0.7891. Approximately 11,216,579 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 19,896,052 shares. The stock had previously closed at $0.7857.

Eightco Price Performance

The firm has a market capitalization of $309.64 million, a P/E ratio of -0.58 and a beta of 1.98. The firm’s fifty day moving average is $0.99.

Eightco (NASDAQ:ORBS) last released its earnings results on Wednesday, April 15th. The company reported ($2.39) earnings per share (EPS) for the quarter. The business had revenue of $10.19 million during the quarter. Eightco had a negative net margin of 794.44% and a negative return on equity of 165.41%.

Hedge Funds Weigh In On Eightco

Institutional investors have recently modified their holdings of the business. PEAK6 LLC bought a new position in shares of Eightco in the fourth quarter valued at approximately $26,000. LPL Financial LLC bought a new position in shares of Eightco in the fourth quarter valued at approximately $28,000. Barclays PLC bought a new position in shares of Eightco in the fourth quarter valued at approximately $33,000. Krilogy Financial LLC bought a new position in shares of Eightco in the first quarter valued at approximately $33,000. Finally, Monograph Wealth Advisors LLC bought a new position in shares of Eightco in the fourth quarter valued at approximately $33,000. 12.85% of the stock is owned by institutional investors.

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.