Eightco (NASDAQ:OCTO) Trading Down 2.1% – What’s Next?

Eightco Holdings Inc. (NASDAQ:OCTO)’s share price was down 2.1% during mid-day trading on Thursday . The stock traded as low as $1.37 and last traded at $1.40. Approximately 7,917,097 shares changed hands during trading, a decline of 32% from the average daily volume of 11,576,554 shares. The stock had previously closed at $1.43.

Eightco Stock Performance

The stock’s 50-day moving average is $2.08 and its 200 day moving average is $4.89. The firm has a market cap of $4.42 million, a P/E ratio of -0.48 and a beta of 0.84. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.09 and a current ratio of 0.30.

Hedge Funds Weigh In On Eightco

A number of large investors have recently added to or reduced their stakes in OCTO. Moody National Bank Trust Division bought a new position in shares of Eightco during the third quarter worth about $844,000. Gainplan LLC acquired a new stake in Eightco in the third quarter valued at $242,000. Brookwood Investment Group LLC bought a new position in Eightco during the third quarter worth about $333,000. NTV Asset Management LLC bought a new position in shares of Eightco during the 3rd quarter worth approximately $241,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Eightco during the third quarter worth $342,000. 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. Eightco Holdings Inc was incorporated in 1966 and is headquartered in Easton, Pennsylvania.