Eightco (NASDAQ:OCTO) Stock Price Down 8.9% – What’s Next?

Eightco Holdings Inc. (NASDAQ:OCTO) dropped 8.9% during mid-day trading on Wednesday . The company traded as low as $3.58 and last traded at $3.60. Approximately 1,690,660 shares were traded during trading, a decline of 85% from the average daily volume of 11,576,554 shares. The stock had previously closed at $3.95.

Eightco Price Performance

The stock has a market capitalization of $10.96 million, a PE ratio of -1.19 and a beta of 0.84. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.30 and a quick ratio of 0.09. The stock’s fifty day moving average is $10.44 and its 200-day moving average is $4.54.

Eightco (NASDAQ:OCTO) last issued its quarterly earnings data on Tuesday, August 19th. The company reported ($0.38) earnings per share for the quarter. Eightco had a negative return on equity of 91.96% and a negative net margin of 21.43%.The firm had revenue of $7.58 million during the quarter.

Institutional Trading of Eightco

Several institutional investors have recently bought and sold shares of the business. Moody National Bank Trust Division acquired a new position in shares of Eightco during the 3rd quarter worth approximately $844,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Eightco in the 3rd quarter valued at $342,000. Brookwood Investment Group LLC purchased a new stake in Eightco in the 3rd quarter worth $333,000. Gainplan LLC acquired a new position in Eightco during the third quarter worth $242,000. Finally, NTV Asset Management LLC acquired a new position in Eightco during the third quarter worth $241,000. 12.85% of the stock is owned by institutional investors and hedge funds.

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.