The 36-month beta value for OCTO is also noteworthy at 1.81.
The public float for OCTO is 2.13M, and at present, short sellers hold a 1.47% of that float. The average trading volume of OCTO on December 20, 2024 was 1.74M shares.
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OCTO) stock’s latest price update
Eightco Holdings Inc (NASDAQ: OCTO) has experienced a rise in its stock price by 3.07 compared to its previous closing price of 1.47. However, the company has seen a fall of -5.03% in its stock price over the last five trading days. globenewswire.com reported 2024-12-20 that $7.2 Million Debt Extension and $3.1 Million New Financing to Fuel Expansion Plans for 2025 Easton, PA, Dec. 20, 2024 (GLOBE NEWSWIRE) — Eightco Holdings Inc. (NASDAQ: OCTO) (the “Company” or “Eightco”) today announced that its wholly-owned subsidiary, Forever 8 Fund, LLC (“ Forever 8 ”), completed a series of transactions with respect to its outstanding Series A, Series B, Series C and Series D promissory notes (the “Old Debt”) to create new Series A and Series C promissory notes (the “New Debt”) and retire the Old Debt. The transactions resulted in an extension of $7.2 million of existing debt and the raising of an incremental $3.1 million of debt to fund growth through the end of the fourth quarter of 2024 and into 2025.
OCTO’s Market Performance
Eightco Holdings Inc (OCTO) has seen a -5.03% fall in stock performance for the week, with a -13.71% decline in the past month and a -52.81% plunge in the past quarter. The volatility ratio for the week is 7.37%, and the volatility levels for the past 30 days are at 7.46% for OCTO. The simple moving average for the past 20 days is -11.79% for OCTO’s stock, with a -38.35% simple moving average for the past 200 days.
OCTO Trading at -20.29% from the 50-Day Moving Average
After a stumble in the market that brought OCTO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -68.93% of loss for the given period.
Volatility was left at 7.46%, however, over the last 30 days, the volatility rate increased by 7.37%, as shares sank -4.32% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -17.11% lower at present.
During the last 5 trading sessions, OCTO fell by -2.52%, which changed the moving average for the period of 200-days by -52.28% in comparison to the 20-day moving average, which settled at $1.7138. In addition, Eightco Holdings Inc saw -41.25% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for OCTO
Current profitability levels for the company are sitting at:
- -0.15 for the present operating margin
- 0.18 for the gross margin
The net margin for Eightco Holdings Inc stands at 0.0. The total capital return value is set at -0.28. Equity return is now at value -36.66, with -5.39 for asset returns.
Based on Eightco Holdings Inc (OCTO), the company’s capital structure generated 0.68 points at debt to capital in total, while cash flow to debt ratio is standing at -0.03. The debt to equity ratio resting at 2.13. The interest coverage ratio of the stock is -1.06.
Currently, EBITDA for the company is -53.72 million with net debt to EBITDA at -8.14. When we switch over and look at the enterprise to sales, we see a ratio of 0.73. The receivables turnover for the company is 14.61for trailing twelve months and the total asset turnover is 0.81. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.35.
Conclusion
In summary, Eightco Holdings Inc (OCTO) has had a bad performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
