Short Interest in Eightco Holdings Inc. (NASDAQ:OCTO) Drops By 72.9%

Eightco Holdings Inc. (NASDAQ:OCTO) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 12,100 shares, a decline of 72.9% from the October 15th total of 44,700 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily volume of 1,720,000 shares, the days-to-cover ratio is currently 0.0 days.

Eightco Stock Performance

Shares of Eightco stock traded up $0.11 on Wednesday, reaching $2.02. The company’s stock had a trading volume of 227,064 shares, compared to its average volume of 544,904. Eightco has a 52-week low of $1.26 and a 52-week high of $4.86. The company has a quick ratio of 0.13, a current ratio of 0.32 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $2.10 and a 200-day moving average price of $2.29.

Eightco (NASDAQ:OCTO) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($1.45) earnings per share for the quarter. The company had revenue of $7.02 million for the quarter. Eightco had a negative net margin of 0.39% and a negative return on equity of 439.57%.

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.