The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 8X8 Inc. shares valued at $15,228 were sold by Seandel Suzy M on Oct 16 ’24. At $2.08 per share, Seandel Suzy M sold 7,333 shares. The insider’s holdings dropped to 319,798 shares worth approximately $0.69 million following the completion of this transaction.
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Also, Suzy Seandel purchased 7,333 shares, netting a total of over 15,228 in proceeds.
Before that, Kraus Kevin had sold 1,000 shares from its account. In a trade valued at $2,100, the Chief Financial Officer traded 8X8 Inc. shares for $2.10 each. Upon closing the transaction, the insider’s holdings decreased to 1,000 shares, worth approximately $1.03 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 9.60%. Over the course of the year, 8X8 Inc. shares have dropped approximately -42.59%. Shares of the company reached a 52-week high of $3.80 on 01/02/24 and a 52-week low of $1.51 on 08/08/24. A 50-day SMA is recorded $1.94, while a 200-day SMA reached $2.44. Nevertheless, trading volume fell to 0.79 million shares from 0.47 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 2.09, which, if violated, would cause prices to drop to 2.00. In the upper region, resistance lies at 2.22. The next price resistance is at 2.26. RSI (Relative Strength Index) is 61.08 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.06, which suggests the price will decrease in the coming days. Percent R is at 3.03%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
