Eightco Holdings Inc. (NASDAQ:OCTO) Sees Significant Decrease in Short Interest

Eightco Holdings Inc. (NASDAQ:OCTO) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 12,100 shares, a decrease of 72.9% from the October 15th total of 44,700 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 1,720,000 shares, the days-to-cover ratio is currently 0.0 days.

Eightco Stock Performance

OCTO traded down $0.04 during trading on Tuesday, hitting $1.91. The stock had a trading volume of 15,204 shares, compared to its average volume of 546,351. The company has a 50 day simple moving average of $2.09 and a 200-day simple moving average of $2.30. Eightco has a 12 month low of $1.26 and a 12 month high of $4.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.32.

Eightco (NASDAQ:OCTO) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($1.45) EPS for the quarter. Eightco had a negative return on equity of 439.57% and a negative net margin of 0.39%. The business had revenue of $7.02 million for the quarter.

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.