In a filing, 8X8 Inc. revealed its Chief Product Officer Middleton Hunter unloaded Company’s shares for reported $713.0 on Aug 16 ’24. In the deal valued at $1.71 per share,417 shares were sold. As a result of this transaction, Middleton Hunter now holds 399,242 shares worth roughly $0.75 million.
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Then, Kraus Kevin sold 1,000 shares, generating $1,704 in total proceeds. Upon selling the shares at $1.70, the Chief Financial Officer now owns 283,676 shares.
Before that, Kraus Kevin sold 406 shares. 8X8 Inc. shares valued at $694 were divested by the Chief Financial Officer at a price of $1.71 per share. As a result of the transaction, Kraus Kevin now holds 283,270 shares, worth roughly $0.53 million.
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 $1.88. Over the last five days, the stock has lost -3.59%. 8X8 Inc. shares have fallen nearly -50.26% since the year began. Nevertheless, the stocks have fallen -39.74% 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 $2.3220, while 200 days put it at $2.7455.
Levels Of Support And Resistance For EGHT Stock
The 24-hour chart illustrates a support level at 1.8567, which if violated will result in even more drops to 1.8333. On the upside, there is a resistance level at 1.9067. A further resistance level may holdings at 1.9333. The Relative Strength Index (RSI) on the 14-day chart is 40.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0817, which suggests price will go down in the next trading period. Percent R suggests that price movement has been 30.00 at 30.00%. Stochastics %K at 70.16% indicates the stock is a holding.
How much short interest is there in 8X8 Inc.?
A steep rise in short interest was recorded in 8X8 Inc. stocks on 2024-08-15, dropping by -3.32 million shares to a total of 10.57 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 13.89 million shares. There was a decline of -31.36%, 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.
