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 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 presently 0.1 days. Approximately 2.5% of the shares of the stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Eightco stock. Geode Capital Management LLC acquired a new position in shares of Eightco Holdings Inc. (NASDAQ:OCTO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,828 shares of the company’s stock, valued at approximately $30,000. Geode Capital Management LLC owned about 0.57% of Eightco at the end of the most recent quarter. 12.85% of the stock is currently owned by institutional investors and hedge funds.

Eightco Price Performance

Shares of Eightco stock traded down $0.02 during midday trading on Tuesday, hitting $1.10. 10,916 shares of the company were exchanged, compared to its average volume of 49,877. The firm has a 50 day simple moving average of $1.57 and a 200-day simple moving average of $1.81. Eightco has a 52 week low of $1.02 and a 52 week high of $4.86. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.35 and a quick ratio of 0.22.

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.