Eightco (NASDAQ:OCTO) Trading Down 1% – What’s Next?

Eightco Holdings Inc. (NASDAQ:OCTO) shares dropped 1% during trading on Tuesday . The company traded as low as $1.85 and last traded at $1.87. Approximately 7,224 shares changed hands during trading, a decline of 87% from the average daily volume of 56,291 shares. The stock had previously closed at $1.89.

Eightco Price Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.22 and a current ratio of 0.35. The business has a fifty day simple moving average of $1.71 and a 200 day simple moving average of $1.84.

Institutional Trading of 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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,828 shares of the company’s stock, valued at approximately $30,000. Geode Capital Management LLC owned approximately 0.57% of Eightco as of its most recent SEC filing. 12.85% of the stock is owned by institutional investors and hedge funds.

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.