8X8 Inc.’s filing revealed that its Chief Executive Officer Wilson Samuel C. unloaded Company’s shares for reported $36613.0 on Mar 18 ’24. In the deal valued at $2.66 per share,13,740 shares were sold. As a result of this transaction, Wilson Samuel C. now holds 1,022,288 shares worth roughly $2.59 million.
Then, Middleton Hunter sold 10,023 shares, generating $26,708 in total proceeds. Upon selling the shares at $2.66, the Chief Product Officer now owns 435,446 shares.
Before that, Denny Laurence sold 3,498 shares. 8X8 Inc. shares valued at $9,321 were divested by the Chief Legal Officer at a price of $2.66 per share. As a result of the transaction, Denny Laurence now holds 182,649 shares, worth roughly $0.46 million.
Craig Hallum upgraded its 8X8 Inc. [EGHT] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including Craig Hallum’s analysts, who decreased its forecast for the stock in early August from “a Buy” to “a Hold”. Rosenblatt began covering EGHT with “Buy” recommendation on March 24, 2023. Wedbush started covering the stock on December 15, 2022. It rated EGHT as “a Neutral”.
Price Performance Review of EGHT
On Monday, 8X8 Inc. [NASDAQ:EGHT] saw its stock jump 2.85% to $2.53. Over the last five days, the stock has lost -5.60%. 8X8 Inc. shares have fallen nearly -33.07% since the year began. Nevertheless, the stocks have fallen -33.42% over the past one year. While a 52-week high of $4.88 was reached on 01/02/24, a 52-week low of $2.15 was recorded on 02/23/24. SMA at 50 days reached $2.80, while 200 days put it at $3.19. A total of 1.62 million shares were traded, compared to the trading of 0.58 million shares in the previous session.
Levels Of Support And Resistance For EGHT Stock
The 24-hour chart illustrates a support level at 2.45, which if violated will result in even more drops to 2.38. On the upside, there is a resistance level at 2.61. A further resistance level may holdings at 2.70. The Relative Strength Index (RSI) on the 14-day chart is 41.19, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.00%. Stochastics %K at 12.42% indicates the stock is a buying.
How much short interest is there in 8X8 Inc.?
A steep rise in short interest was recorded in 8X8 Inc. stocks on Mar 15, 2024, dropping by -0.81 million shares to a total of 16.12 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 16.93 million shares. There was a decline of -5.02%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 27.94% of the overall stock float, the days-to-cover ratio (short ratio) fell to 8.89.
