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 $9,318 were sold by Denny Laurence on Sep 16 ’24. At $1.83 per share, Denny Laurence sold 5,081 shares. The insider’s holdings dropped to 276,246 shares worth approximately $0.52 million following the completion of this transaction.
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Also, Kraus Kevin sold 8,995 shares, netting a total of over 16,511 in proceeds. Following the sale of shares at $1.84 each, the insider now holds 474,275 shares.
Before that, Wilson Samuel C. had sold 26,254 shares from its account. In a trade valued at $48,145, the Chief Executive Officer traded 8X8 Inc. shares for $1.83 each. Upon closing the transaction, the insider’s holdings decreased to 26,254 shares, worth approximately $2.6 million.
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 surge of approximately 6.74%. Over the course of the year, 8X8 Inc. shares have dropped approximately -49.74%. 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 $2.2394, while a 200-day SMA reached $2.6725. Nevertheless, trading volume fell to 1.11 million shares from 1.0 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 1.8600, which, if violated, would cause prices to drop to 1.8200. In the upper region, resistance lies at 1.9500. The next price resistance is at 2.0000. RSI (Relative Strength Index) is 47.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0669, which suggests the price will decrease in the coming days. Percent R is at 20.69%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
