Short Interest in Eightco Holdings Inc. (NASDAQ:OCTO) Decreases By 29.0%

Eightco Holdings Inc. (NASDAQ:OCTO) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 49,000 shares, a decrease of 29.0% from the February 13th total of 69,000 shares. Based on an average daily trading volume, of 507,300 shares, the short-interest ratio is currently 0.1 days. Currently, 2.5% of the shares of the company are short sold.

Hedge Funds Weigh In On Eightco

A hedge fund recently bought a new stake in Eightco stock. Geode Capital Management LLC purchased a new position in Eightco Holdings Inc. (NASDAQ:OCTO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,828 shares of the company’s stock, valued at approximately $30,000. Geode Capital Management LLC owned 0.57% of Eightco at the end of the most recent reporting period. 12.85% of the stock is currently owned by hedge funds and other institutional investors.

Eightco Stock Down 0.9 %

OCTO stock traded down $0.01 during midday trading on Monday, reaching $1.12. 7,497 shares of the company’s stock traded hands, compared to its average volume of 50,650. Eightco has a 52-week low of $1.02 and a 52-week high of $4.86. The company has a quick ratio of 0.22, a current ratio of 0.35 and a debt-to-equity ratio of 0.74. The stock’s 50-day moving average is $1.58 and its 200 day moving average is $1.82.

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.