Eightco Holdings Inc. (NASDAQ:OCTO) Sees Large Decline in Short Interest

Eightco Holdings Inc. (NASDAQ:OCTO) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 37,100 shares, a decrease of 24.3% from the February 28th total of 49,000 shares. Based on an average daily trading volume, of 505,800 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.9% of the shares of the company are short sold.

Institutional Investors Weigh In On Eightco

An institutional investor recently bought a new position in Eightco stock. Geode Capital Management LLC bought a new stake in shares of Eightco Holdings Inc. (NASDAQ:OCTO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,828 shares of the company’s stock, valued at approximately $30,000. Geode Capital Management LLC owned 0.57% of Eightco as of its most recent SEC filing. Institutional investors own 12.85% of the company’s stock.

Eightco Trading Up 5.6 %

OCTO stock traded up $0.06 during trading on Tuesday, hitting $1.13. The company had a trading volume of 9,634 shares, compared to its average volume of 44,164. The business has a 50 day moving average of $1.44 and a 200 day moving average of $1.78. Eightco has a fifty-two week low of $1.02 and a fifty-two week high of $4.86. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.22 and a current ratio of 0.35.

About Eightco

Eightco Holdings Inc provides inventory management and corrugated custom packaging solutions in North America and Europe. It manufactures and sells custom packaging solutions for a various product; and provides and resells bitcoin mining equipment and co-location services. The company was formerly known as Cryptyde, Inc and changed its name to Eightco Holdings Inc in April 2023.