Short Interest in Eightco Holdings Inc. (NASDAQ:OCTO) Decreases By 88.7%

Eightco Holdings Inc. (NASDAQ:OCTO) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 44,700 shares, a decline of 88.7% from the September 30th total of 395,400 shares. Based on an average daily volume of 1,720,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 3.1% of the company’s shares are sold short.

Eightco Stock Performance

Shares of OCTO traded down $0.05 during trading hours on Friday, reaching $1.98. 37,582 shares of the company traded hands, compared to its average volume of 576,148. Eightco has a 12-month low of $1.26 and a 12-month high of $4.86. The stock’s fifty day moving average price is $2.04 and its 200 day moving average price is $2.43. The company has a quick ratio of 0.13, a current ratio of 0.32 and a debt-to-equity ratio of 0.67.

Eightco (NASDAQ:OCTO) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($1.45) earnings per share 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 during 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.