This was clearly a previously agreed to trade. Question then is; was the initiating party a buyer or a seller.
If the initiating party was a buyer, then why did they not buy the previous trading day, last Friday, when they could have gotten these shares for a lot less money in the 7.80's range, thus saving about $ 65,000 or more.
If, however, the initiating party was the seller, then clearly last Friday was not the day to do that. Prior to that big trade, the trading was essentially in the form of 100 or 200 share trades - almost exclusively at the bid, that is someone was selling in small increments to test the waters.
Bottom line; one of the major institutional investors wanted out. Then, one would have to ask - who was the counter party - was it the market maker ( which I doubt ) or another institutional looking for a " bargain ".
The block was done at $8.05 and traded up after that. My guess is that someone has been bailing and pressuring the stock someone cleared out the seller allowing for an easier pump back up in advance of the next equity raise.