Investors Buy High Volume of Eightco Call Options (NASDAQ:ORBS)

Eightco Holdings Inc. (NASDAQ:ORBS) saw unusually large options trading on Tuesday. Stock investors bought 20,299 call options on the stock. This represents an increase of approximately 60% compared to the average daily volume of 12,659 call options.

Eightco Price Performance

NASDAQ:ORBS opened at $0.94 on Wednesday. Eightco has a 12-month low of $0.72 and a 12-month high of $83.12. The firm has a market capitalization of $365.08 million, a P/E ratio of -1.59 and a beta of 2.03. The business has a 50 day simple moving average of $0.91 and a 200 day simple moving average of $1.39.

Eightco (NASDAQ:ORBS) last announced its quarterly earnings results on Wednesday, April 15th. The company reported ($2.39) earnings per share (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.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. PEAK6 LLC acquired a new position in Eightco during the 4th quarter worth $26,000. LPL Financial LLC acquired a new position in Eightco during the 4th quarter worth $28,000. Monograph Wealth Advisors LLC acquired a new position in Eightco during the 4th quarter worth $33,000. Barclays PLC acquired a new position in Eightco during the 4th quarter worth $33,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new position in Eightco during the 4th quarter worth $35,000. Institutional investors and hedge funds own 12.85% of the company’s stock.

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.