Eightco (NASDAQ:OCTO) Shares Down 2.1% – Time to Sell?

Shares of Eightco Holdings Inc. (NASDAQ:OCTO) were down 2.1% during trading on Thursday . The company traded as low as $1.37 and last traded at $1.40. Approximately 7,917,097 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 11,576,554 shares. The stock had previously closed at $1.43.

Eightco Trading Down 2.1%

The stock’s fifty day simple moving average is $2.11 and its 200-day simple moving average is $4.88. The firm has a market cap of $4.26 million, a PE ratio of -0.46 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.

Hedge Funds Weigh In On Eightco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCTO. JPMorgan Chase & Co. purchased a new stake in Eightco during the 3rd quarter valued at about $100,000. Strategic Investment Solutions Inc. IL purchased a new stake in Eightco in the third quarter valued at approximately $128,000. NTV Asset Management LLC acquired a new position in Eightco in the 3rd quarter worth approximately $241,000. Gainplan LLC purchased a new position in Eightco during the 3rd quarter worth approximately $242,000. Finally, Mairs & Power Inc. acquired a new stake in Eightco during the 3rd quarter valued at approximately $263,000. Hedge funds and other 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. Eightco Holdings Inc was incorporated in 1966 and is headquartered in Easton, Pennsylvania.