Eightco (NASDAQ:OCTO) Trading Up 2.9% – Here’s Why

Shares of Eightco Holdings Inc. (NASDAQ:OCTO) rose 2.9% on Wednesday . The stock traded as high as $1.12 and last traded at $1.08. Approximately 35,265,195 shares were traded during trading, an increase of 205% from the average session volume of 11,576,554 shares. The stock had previously closed at $1.05.

Eightco Price Performance

The company has a quick ratio of 0.09, a current ratio of 0.30 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average of $0.92 and a two-hundred day moving average of $1.33. The firm has a market capitalization of $3.14 million, a price-to-earnings ratio of -0.34 and a beta of 0.84.

Institutional Investors Weigh In On Eightco

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in Eightco during the 3rd quarter worth approximately $100,000. Strategic Investment Solutions Inc. IL acquired a new stake in Eightco in the third quarter valued at approximately $128,000. Mairs & Power Inc. bought a new stake in shares of Eightco during the third quarter worth $263,000. Two Sigma Investments LP bought a new stake in shares of Eightco during the third quarter worth $288,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Eightco during the third quarter worth $320,000. 12.85% of the stock is currently 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. Eightco Holdings Inc was incorporated in 1966 and is headquartered in Easton, Pennsylvania.