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8X8 Inc. (EGHT) receives an Underweight rating from Morgan Stanley

In a filing, 8X8 Inc. revealed its Director Theophille Elizabeth Harriet unloaded Company’s shares for reported $35078.0 on Jul 29 ’24. In the deal valued at $3.31 per share,10,598 shares were sold. As a result of this transaction, Theophille Elizabeth Harriet now holds 65,181 shares worth roughly $0.11 million.

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Then, Bonner Monique sold 17,500 shares, generating $56,807 in total proceeds. Upon selling the shares at $3.25, the Director now owns 94,387 shares.

Before that, MONIQUE BONNER bought 17,500 shares. 8X8 Inc. shares valued at $58,450 were divested by the Director at a price of $3.34 per share.

Morgan Stanley downgraded its 8X8 Inc. [EGHT] rating to an Underweight from a an Equal-weight in a research note published on June 14, 2024; the price target was decreased to $2 from $3. A number of analysts have revised their coverage, including Craig Hallum’s analysts, who increased its forecast for the stock in early November from “a Hold” to “a Buy”. Craig Hallum also remained covering EGHT and has decreased its forecast on August 09, 2023 with a “Hold” recommendation from previously “Buy” rating. Rosenblatt started covering the stock on March 24, 2023. It rated EGHT as “a Buy”.

Price Performance Review of EGHT

On Friday, 8X8 Inc. [NASDAQ:EGHT] saw its stock unchanged to $1.69. Over the last five days, the stock has lost -8.15%. 8X8 Inc. shares have fallen nearly -55.29% since the year began. Nevertheless, the stocks have fallen -50.15% over the past one year. While a 52-week high of $3.92 was reached on 01/02/24, a 52-week low of $1.51 was recorded on 08/08/24. SMA at 50 days reached $2.4129, while 200 days put it at $2.7964.

Levels Of Support And Resistance For EGHT Stock

The 24-hour chart illustrates a support level at 1.6500, which if violated will result in even more drops to 1.6100. On the upside, there is a resistance level at 1.7450. A further resistance level may holdings at 1.8000. The Relative Strength Index (RSI) on the 14-day chart is 28.87, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.5924, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.22%. Stochastics%K at 8.80% 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 2024-07-31, dropping by -2.01 million shares to a total of 12.24 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 14.25 million shares. There was a decline of -16.41%, which implies that there is a negative sentiment for the stock.

The most recent change occurred on December 15, 2022 when Wedbush began covering the stock and recommended ‘”a Neutral”‘ rating along with a $7 price target.

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