380,000 Shares in 8×8 Inc $EGHT Acquired by Nano Cap New Millennium Growth Fund L P

Nano Cap New Millennium Growth Fund L P acquired a new position in 8×8 Inc (NASDAQ:EGHT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 380,000 shares of the company’s stock, valued at approximately $749,000. Nano Cap New Millennium Growth Fund L P owned 0.27% of 8X8 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Man Group plc boosted its holdings in 8X8 by 5.2% in the 3rd quarter. Man Group plc now owns 108,337 shares of the company’s stock worth $230,000 after buying an additional 5,387 shares during the period. Mayflower Financial Advisors LLC boosted its holdings in 8X8 by 2.0% in the 4th quarter. Mayflower Financial Advisors LLC now owns 389,123 shares of the company’s stock worth $767,000 after buying an additional 7,659 shares during the period. SG Americas Securities LLC boosted its holdings in 8X8 by 46.0% in the 4th quarter. SG Americas Securities LLC now owns 26,630 shares of the company’s stock worth $52,000 after buying an additional 8,392 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in 8X8 by 14.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 67,219 shares of the company’s stock worth $129,000 after buying an additional 8,678 shares during the period. Finally, Prelude Capital Management LLC bought a new position in 8X8 in the 3rd quarter worth approximately $26,000. 93.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on EGHT. Rosenblatt Securities lifted their target price on 8X8 from $2.75 to $3.00 and gave the company a “buy” rating in a report on Wednesday. Zacks Research lowered 8X8 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Weiss Ratings raised 8X8 from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.45.

8X8 Trading Down 5.8%

Shares of EGHT stock opened at $2.13 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.09 and a debt-to-equity ratio of 1.93. The business has a 50-day moving average price of $2.01 and a two-hundred day moving average price of $2.04. 8×8 Inc has a 12-month low of $1.56 and a 12-month high of $2.88. The firm has a market cap of $296.75 million, a P/E ratio of 106.55, a price-to-earnings-growth ratio of 1.72 and a beta of 1.83.

8X8 Company Profile

8×8, Inc (NASDAQ: EGHT) is a global provider of cloud-based enterprise communications, collaboration and contact centre solutions. The company’s unified communications as a service (UCaaS) platform integrates voice, video, chat, SMS and contact-centre capabilities into a single, software-driven solution. By combining real-time analytics, team messaging and interoperability with third-party business applications, 8×8 aims to simplify communications infrastructure for organisations of all sizes.

Founded in 1987 and headquartered in Campbell, California, 8×8 pioneered hosted VoIP services for businesses in the late 1990s and went public on the NASDAQ in 1997.