Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 8X8 Inc shares valued at $71,485 were sold by Denny Laurence on Nov 22 ’24. At $3.01 per share, Denny Laurence sold 23,773 shares. The insider’s holdings dropped to 241,246 shares worth approximately $0.76 million following the completion of this transaction.
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Also, Denny Laurence sold 11,227 shares, netting a total of over 33,681 in proceeds. Following the sale of shares at $3.00 each, the insider now holds 265,019 shares.
Before that, LAURENCE A DENNY had added 35,000 shares to its account. In a trade valued at $99,400, the Officer bought 8X8 Inc shares for $2.84 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 surge of approximately 10.56%. Over the course of the year, 8X8 Inc shares have dropped approximately -16.93%. 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 $2.33, while a 200-day SMA reached $2.40. Nevertheless, trading volume fell to 0.55 million shares from 1.21 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 3.08, which, if violated, would cause prices to drop to 3.02. In the upper region, resistance lies at 3.22. The next price resistance is at 3.29. RSI (Relative Strength Index) is 73.12 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.23, which suggests the price will decrease in the coming days. Percent R is at 20.97%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
