Eightco Holdings Inc. (NASDAQ:OCTO) Short Interest Down 24.3% in March

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

Hedge Funds Weigh In On Eightco

An institutional investor recently bought a new position in Eightco stock. Geode Capital Management LLC bought a new stake in Eightco Holdings Inc. (NASDAQ:OCTO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 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 quarter. 12.85% of the stock is owned by institutional investors and hedge funds.

Eightco Trading Up 5.6 %

Shares of NASDAQ:OCTO opened at $1.13 on Wednesday. The stock has a 50-day simple moving average of $1.44 and a 200-day simple moving average of $1.78. Eightco has a 1 year low of $1.02 and a 1 year high of $4.86. The company has a current ratio of 0.35, a quick ratio of 0.22 and a debt-to-equity ratio of 0.74.

Eightco Company Profile

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.