Eightco (NASDAQ:OCTO) Shares Up 11.7% – What’s Next?

Eightco Holdings Inc. (NASDAQ:OCTO) shares shot up 11.7% on Friday . The company traded as high as $1.10 and last traded at $0.9033. 303,886,121 shares were traded during mid-day trading, an increase of 2,525% from the average session volume of 11,576,554 shares. The stock had previously closed at $0.8089.

Eightco Stock Down 9.2%

The company has a market cap of $2.50 million, a PE ratio of -0.27 and a beta of 0.84. The firm has a 50-day simple moving average of $1.35 and a two-hundred day simple moving average of $4.84. 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 institutional investors and hedge funds have recently bought and sold shares of the stock. Alyeska Investment Group L.P. bought a new stake in shares of Eightco in the third quarter worth $291,148,000. Pantera Capital Partners LP bought a new position in Eightco during the 3rd quarter valued at $280,733,000. Anson Funds Management LP acquired a new position in Eightco during the third quarter worth about $198,164,000. Polar Asset Management Partners Inc. bought a new stake in shares of Eightco in the 3rd quarter worth approximately $13,211,000. Finally, UBS Group AG lifted its position in shares of Eightco by 21,435.9% during the 3rd quarter. UBS Group AG now owns 440,624 shares of the company’s stock valued at $10,623,000 after acquiring an additional 438,578 shares during the last quarter. Hedge funds and other institutional investors own 12.85% of the company’s stock.

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.