Eightco Holdings Inc. (NASDAQ:OCTO) Short Interest Down 19.6% in May

Eightco Holdings Inc. (NASDAQ:OCTO) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 91,700 shares, a decline of 19.6% from the April 30th total of 114,100 shares. Currently, 3.7% of the shares of the company are short sold. Based on an average daily volume of 78,200 shares, the short-interest ratio is currently 1.2 days.

Eightco Stock Performance

Shares of NASDAQ OCTO traded up $0.04 during mid-day trading on Tuesday, reaching $1.39. The company’s stock had a trading volume of 6,321 shares, compared to its average volume of 66,627. The stock has a fifty day moving average of $1.22 and a two-hundred day moving average of $1.47. Eightco has a 52 week low of $0.98 and a 52 week high of $4.86. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.22 and a current ratio of 0.35.

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

Institutional Trading of Eightco

A hedge fund recently bought a new stake in Eightco stock. Geode Capital Management LLC bought a new stake in Eightco Holdings Inc. (NASDAQ:OCTO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,828 shares of the company’s stock, valued at approximately $30,000. Geode Capital Management LLC owned 0.57% of Eightco at the end of the most recent reporting period. 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.