Eightco (NASDAQ:OCTO) Stock Price Up 3.8% – What’s Next?

Eightco Holdings Inc. (NASDAQ:OCTO)’s stock price shot up 3.8% on Tuesday . The company traded as high as $1.0650 and last traded at $0.9447. 33,289,014 shares changed hands during mid-day trading, an increase of 188% from the average session volume of 11,576,554 shares. The stock had previously closed at $0.91.

Eightco Stock Up 3.8%

The stock’s fifty day moving average is $0.94 and its two-hundred day moving average is $1.60. The company has a current ratio of 0.30, a quick ratio of 0.09 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $2.88 million, a PE ratio of -0.31 and a beta of 0.84.

Hedge Funds Weigh In On Eightco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. purchased a new position in shares of Eightco in the 3rd quarter worth about $13,211,000. Anson Funds Management LP bought a new stake in Eightco in the 3rd quarter valued at about $198,164,000. Strategic Investment Solutions Inc. IL bought a new stake in Eightco in the 3rd quarter valued at about $128,000. Alyeska Investment Group L.P. bought a new stake in Eightco in the 3rd quarter valued at about $291,148,000. Finally, Pantera Capital Partners LP bought a new stake in Eightco in the 3rd quarter valued at about $280,733,000. 12.85% of the stock is owned by hedge funds and other institutional investors.

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.