Eightco (NASDAQ:OCTO) Stock Price Down 3.4% – What’s Next?

Eightco Holdings Inc. (NASDAQ:OCTO)’s share price was down 3.4% during mid-day trading on Thursday . The company traded as low as $0.6152 and last traded at $0.6515. Approximately 13,229,636 shares traded hands during trading, an increase of 14% from the average session volume of 11,576,554 shares. The stock had previously closed at $0.6744.

Eightco Stock Down 1.4%

The firm’s 50 day moving average price is $0.86 and its two-hundred day moving average price is $1.13. The company has a market cap of $2.08 million, a P/E ratio of -0.23 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

Several institutional investors have recently made changes to their positions in OCTO. Strategic Investment Solutions Inc. IL bought a new position in shares of Eightco during the 3rd quarter worth about $128,000. Polar Asset Management Partners Inc. acquired a new position in Eightco during the 3rd quarter worth approximately $13,211,000. Alyeska Investment Group L.P. bought a new position in Eightco in the third quarter worth approximately $291,148,000. Qube Research & Technologies Ltd bought a new position in Eightco in the third quarter worth approximately $320,000. Finally, Pantera Capital Partners LP bought a new position in Eightco in the third quarter worth approximately $280,733,000. Institutional investors and hedge funds 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.