Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. 8X8 Inc. shares valued at $35,078 were sold by Theophille Elizabeth Harriet on Jul 29 ’24. At $3.31 per share, Theophille Elizabeth Harriet sold 10,598 shares. The insider’s holdings dropped to 65,181 shares worth approximately $0.11 million following the completion of this transaction.
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Also, Bonner Monique sold 17,500 shares, netting a total of over 56,807 in proceeds. Following the sale of shares at $3.25 each, the insider now holds 94,387 shares.
Before that, MONIQUE BONNER had added 17,500 shares to its account. In a trade valued at $58,450, the Director bought 8X8 Inc. shares for $3.34 each.
As published in a research note from Morgan Stanley on June 14, 2024, 8X8 Inc. [EGHT] has been rated down from an Equal-weight to an Underweight and the price target has been revised to $2 from $3. Analysts at Craig Hallum upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early November. As of August 09, 2023, Craig Hallum has decreased its “Buy” rating to a “Hold” for EGHT. Earlier on March 24, 2023, Rosenblatt initiated its rating. Their recommendation was “a Buy” for EGHT stock.
Analyzing EGHT Stock Performance
During the last five days, there has been a drop of approximately -36.43%. Over the course of the year, 8X8 Inc. shares have dropped approximately -56.61%. Shares of the company reached a 52-week high of $3.8000 on 01/02/24 and a 52-week low of $1.5100 on 08/08/24. A 50-day SMA is recorded $2.4481, while a 200-day SMA reached $2.8028. Nevertheless, trading volume fell to 1.28 million shares from 1.46 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 1.5867, which, if violated, would cause prices to drop to 1.5333. In the upper region, resistance lies at 1.7067. The next price resistance is at 1.7733. RSI (Relative Strength Index) is 26.78 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.8131, which suggests the price will decrease in the coming days. Percent R is at 93.15%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
