Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 8X8 Inc. shares valued at $16,436 were sold by Seandel Suzy M on Apr 16 ’24. At $2.27 per share, Seandel Suzy M sold 7,256 shares. The insider’s holdings dropped to 275,172 shares worth approximately $0.59 million following the completion of this transaction.
Also, Wilson Samuel C. sold 2,000 shares, netting a total of over 4,543 in proceeds. Following the sale of shares at $2.27 each, the insider now holds 1,020,288 shares.
Before that, Kraus Kevin had sold 1,000 shares from its account. In a trade valued at $2,330, the Chief Financial Officer traded 8X8 Inc. shares for $2.33 each. Upon closing the transaction, the insider’s holdings decreased to 1,000 shares, worth approximately $0.68 million.
As published in a research note from Craig Hallum on November 02, 2023, 8X8 Inc. [EGHT] has been rated up from a Hold to a Buy and the price target has been revised to $4.50. Analysts at Craig Hallum downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early August. As of March 24, 2023, Rosenblatt has initiated its “Buy” rating for EGHT. Earlier on December 15, 2022, Wedbush initiated its rating. Their recommendation was “a Neutral” for EGHT stock.
Analyzing EGHT Stock Performance
During the last five days, there has been a drop of approximately -12.96%. Over the course of the year, 8X8 Inc. shares have dropped approximately -43.12%. Shares of the company reached a 52-week high of $3.80 on 01/02/24 and a 52-week low of $2.14 on 04/18/24. A 50-day SMA is recorded $2.66, while a 200-day SMA reached $3.13. Nevertheless, trading volume fell to 0.99 million shares from 1.2 million shares the previous day.
Support And Resistance Levels for 8X8 Inc. (EGHT)
According to the 24-hour chart, there is a support level at 2.11, which, if violated, would cause prices to drop to 2.06. In the upper region, resistance lies at 2.23. The next price resistance is at 2.30. RSI (Relative Strength Index) is 31.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 98.28%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
