Anson Funds Management LP Invests $198.16 Million in Eightco Holdings Inc. $OCTO

Anson Funds Management LP purchased a new stake in shares of Eightco Holdings Inc. (NASDAQ:OCTO) in the 3rd quarter, Holdings Channel reports. The fund purchased 8,219,178 shares of the company’s stock, valued at approximately $198,164,000. Eightco accounts for about 16.4% of Anson Funds Management LP’s holdings, making the stock its largest position. Anson Funds Management LP owned 2.70% of Eightco at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in Eightco during the third quarter worth about $100,000. NTV Asset Management LLC bought a new position in shares of Eightco in the third quarter valued at approximately $241,000. Gainplan LLC acquired a new position in shares of Eightco in the 3rd quarter worth approximately $242,000. Two Sigma Investments LP acquired a new position in shares of Eightco in the 3rd quarter worth approximately $288,000. Finally, Brookwood Investment Group LLC bought a new stake in Eightco during the 3rd quarter worth approximately $333,000. 12.85% of the stock is currently owned by institutional investors and hedge funds.

Eightco Trading Down 9.2%

Shares of OCTO opened at $0.82 on Friday. The stock has a fifty day moving average price of $1.35 and a two-hundred day moving average price of $4.84. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.09 and a current ratio of 0.30. Eightco Holdings Inc. has a 52-week low of $0.98 and a 52-week high of $83.12. The company has a market cap of $2.50 million, a price-to-earnings ratio of -0.27 and a beta of 0.84.

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.