8×8 Inc.’s filing revealed that its Chief Product Officer Middleton Hunter unloaded Company’s shares for reported $1440.0 on Aug 16. In the deal valued at $3.47 per share,415 shares were sold. As a result of this transaction, Middleton Hunter now holds 456,449 shares worth roughly $ 1.37 million.
Then, Kraus Kevin sold 404 shares, generating $1,401 in total proceeds. Upon selling the shares at $3.47, the Chief Financial Officer now owns 337,498 shares.
Before that, Wilson Samuel C. sold 2,000 shares. 8×8 Inc. shares valued at $7,140 were divested by the Chief Executive Officer at a price of $3.57 per share. As a result of the transaction, Wilson Samuel C. now holds 1,141,696 shares, worth roughly $3.43 million.
Craig Hallum downgraded its 8×8 Inc. [EGHT] rating to a Hold from a a Buy in a research note published on Tuesday, August 09, 2023; the price target was decreased to $4 from $7. PT values the company’s stock at a premium of 25.0 to its Tuesday closing price.
Price Performance Review of EGHT
On Tuesday, 8×8 Inc. [NASDAQ:EGHT] saw its stock fall -4.76% to $3.00. On the same session, the stock had its day’s lowest price of $2.75, but rose to a high of $3.03. Over the last five days, the stock has lost -1.64%. 8×8 Inc. shares have fallen nearly -30.56% since the year began. Nevertheless, the stocks have fallen -37.11% over the past one year. While a 52-week high of $6.49 was reached on 02/08/23, a 52-week low of $2.50 was recorded on 05/04/23. SMA at 50 days reached $3.97, while 200 days put it at $4.24. A total of 6.62 million shares were traded, compared to the trading of 1.52 million shares in the previous session.
Levels Of Support And Resistance For EGHT Stock
The 24-hour chart illustrates a support level at 2.82, which if violated will result in even more drops to 2.65. On the upside, there is a resistance level at 3.10. A further resistance level may holdings at 3.21. The Relative Strength Index (RSI) on the 14-day chart is 34.75, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.04, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.59%. Stochastics %K at 27.01% indicates the stock is a holding.
How much short interest is there in 8×8 Inc.?
A steep rise in short interest was recorded in 8×8 Inc. stocks on Aug 14, 2023, growing by 0.43 million shares to a total of 15.22 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 14.79 million shares. There was a rise of 2.83%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 28.07% of the overall stock float, the days-to-cover ratio (short ratio) rose to 10.17.
8×8 Inc. [EGHT] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 17,971,002 shares, or roughly 15.44% of the outstanding EGHT shares. In other words, the investor’s shares have risen by 814,591 from its previous 13-F filing of 17156411.0. Over the last quarter, ArrowMark Colorado Holdings LLC purchased 980,870 shares of 8×8 Inc., while SSgA Funds Management, Inc. bought 856,530 shares. At present, Jacobs Levy Equity Management, In is holding 2,824,456 shares valued at $13.39 million. Impax Asset Management LLC owned 2,481,799 shares of the company at the time of its most recent 13F filing, worth $11.76 million.
According to FactSet, 8×8 Inc.’s share price will average $4.85 in the next year, based on opinions of analysts polled by the firm. This is up nearly 34.92 percent from its previous closing price of $3.15. Analysts expect 8×8 Inc. stock to reach the higher price of $7.00, while the lowest price estimate is $3.00. However, 13 analysts have rated EGHT stock as a Hold in their predictions for 2023.