Traders Buy Large Volume of Eightco Put Options (NASDAQ:ORBS)

Eightco Holdings Inc. (NASDAQ:ORBS) saw some unusual options trading on Thursday. Stock investors acquired 15,304 put options on the stock. This is an increase of approximately 51% compared to the average daily volume of 10,166 put options.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Eightco from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Eightco

Several large investors have recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp grew its stake in Eightco by 187.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 158,800 shares of the company’s stock worth $148,000 after purchasing an additional 103,600 shares during the period. Yorkville Advisors Global LP acquired a new stake in Eightco during the first quarter worth approximately $27,000. Chicago Partners Investment Group LLC acquired a new stake in Eightco during the first quarter worth approximately $34,000. Krilogy Financial LLC acquired a new stake in Eightco during the first quarter worth approximately $33,000. Finally, PEAK6 LLC acquired a new stake in Eightco during the fourth quarter worth approximately $26,000. Institutional investors and hedge funds own 12.85% of the company’s stock.

Eightco Trading Up 3.8%

Shares of ORBS stock opened at $0.96 on Friday. The company has a 50-day moving average of $0.93. Eightco has a 1-year low of $0.72 and a 1-year high of $83.12. The firm has a market capitalization of $373.27 million, a PE ratio of -1.63 and a beta of 1.98.

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

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.