Eightco Holdings Inc. (NASDAQ:OCTO) Short Interest Down 38.4% in May

Eightco Holdings Inc. (NASDAQ:OCTO) saw a large decrease in short interest in May. As of May 31st, there was short interest totalling 56,500 shares, a decrease of 38.4% from the May 15th total of 91,700 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average daily trading volume, of 70,600 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On Eightco

A hedge fund recently bought a new stake in Eightco stock. Geode Capital Management LLC acquired a new position in shares of Eightco Holdings Inc. (NASDAQ:OCTO) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 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 SEC. 12.85% of the stock is owned by institutional investors.

Eightco Stock Performance

Shares of Eightco stock traded up $0.02 on Monday, reaching $1.18. The company had a trading volume of 13,030 shares, compared to its average volume of 62,842. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.35 and a quick ratio of 0.22. The firm’s 50 day moving average price is $1.25 and its two-hundred day moving average price is $1.44. Eightco has a 52-week low of $0.98 and a 52-week high of $4.86.

Eightco (NASDAQ:OCTO) last posted its earnings results on Thursday, May 15th. The company reported ($0.87) earnings per share for the quarter. Eightco had a negative return on equity of 262.04% and a net margin of 0.14%. The business had revenue of $9.91 million for the quarter.

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.