Stock Traders Buy High Volume of Call Options on Eightco (NASDAQ:ORBS)

Eightco Holdings Inc. (NASDAQ:ORBS) saw some unusual options trading on Tuesday. Stock investors purchased 20,299 call options on the company. This is an increase of 60% compared to the typical volume of 12,659 call options.

Eightco Stock Performance

NASDAQ ORBS traded up $0.08 during trading hours on Tuesday, reaching $0.95. 10,740,905 shares of the company’s stock were exchanged, compared to its average volume of 19,041,129. The business’s fifty day simple moving average is $0.91. Eightco has a one year low of $0.72 and a one year high of $83.12. The company has a market cap of $368.61 million, a PE ratio of -1.62 and a beta of 2.03.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Eightco

Large investors have recently modified their holdings of the stock. Caerus Investment Advisors LLC bought a new stake in shares of Eightco during the first quarter valued at approximately $29,000. OMERS ADMINISTRATION Corp lifted its holdings in Eightco by 187.7% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 158,800 shares of the company’s stock worth $148,000 after buying an additional 103,600 shares in the last quarter. Yorkville Advisors Global LP bought a new position in Eightco in the 1st quarter valued at $27,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Eightco in the 1st quarter valued at $34,000. Finally, Krilogy Financial LLC bought a new stake in shares of Eightco during the first quarter worth $33,000. 12.85% of the stock is currently owned by institutional investors and hedge funds.

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.