Mozayyx Management LLC Purchases Shares of 16,438,356 Eightco Holdings Inc. $ORBS

Mozayyx Management LLC acquired a new stake in shares of Eightco Holdings Inc. (NASDAQ:ORBS) during the fourth quarter, Holdings Channel reports. The fund acquired 16,438,356 shares of the company’s stock, valued at approximately $28,438,000. Eightco makes up about 22.3% of Mozayyx Management LLC’s investment portfolio, making the stock its 2nd biggest position. Mozayyx Management LLC owned about 0.08% of Eightco at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ORBS. Alyeska Investment Group L.P. bought a new stake in shares of Eightco in the 4th quarter valued at about $21,136,000. Pantera Capital Partners LP purchased a new stake in Eightco during the 4th quarter valued at about $20,144,000. Anson Funds Management LP bought a new position in Eightco during the 4th quarter worth approximately $14,219,000. JPMorgan Chase & Co. bought a new position in Eightco during the 4th quarter worth approximately $4,657,000. Finally, UBS Group AG purchased a new position in Eightco in the 4th quarter worth approximately $4,528,000. Hedge funds and other institutional investors own 12.85% of the company’s stock.

Eightco Stock Performance

ORBS stock opened at $1.03 on Friday. The stock has a market capitalization of $399.65 million, a price-to-earnings ratio of -1.75 and a beta of 2.03. The firm’s 50-day moving average price is $0.92 and its two-hundred day moving average price is $1.32. Eightco Holdings Inc. has a 12-month low of $0.72 and a 12-month high of $83.12.

Eightco (NASDAQ:ORBS) last posted its earnings results on Wednesday, April 15th. The company reported ($2.39) earnings per share for the quarter. The firm had revenue of $10.19 million for the quarter. Eightco had a negative return on equity of 111.48% and a negative net margin of 1,095.69%.

Insider Buying and Selling

In other Eightco news, CEO Kevin J. O’donnell purchased 200,000 shares of the stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $0.92 per share, with a total value of $184,000.00. Following the transaction, the chief executive officer directly owned 1,246,485 shares of the company’s stock, valued at approximately $1,146,766.20. This trade represents a 19.11% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.44% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ORBS shares. Weiss Ratings reiterated 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 report on Saturday, May 23rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

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.