Short Interest in Eightco Holdings Inc. (NASDAQ:OCTO) Declines By 24.3%

Eightco Holdings Inc. (NASDAQ:OCTO) was the recipient of a large drop in short interest during 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. Based on an average daily volume of 505,800 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.9% of the shares of the company are short sold.

Eightco Price Performance

Shares of NASDAQ:OCTO opened at $1.10 on Monday. 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 has a 1 year low of $1.02 and a 1 year high of $4.86. The firm has a fifty day moving average price of $1.46 and a 200 day moving average price of $1.79.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Eightco stock. Geode Capital Management LLC purchased a new stake in Eightco Holdings Inc. (NASDAQ:OCTO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 13,828 shares of the company’s stock, valued at approximately $30,000. Geode Capital Management LLC owned about 0.57% of Eightco as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 12.85% of the company’s stock.

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.