BranchOut Food Inc. (NASDAQ:BOF) Short Interest Down 35.0% in August

BranchOut Food Inc. (NASDAQ:BOFGet Free Report) saw a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 38,124 shares, a decline of 35.0% from the July 30th total of 58,687 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 26,942 shares, the days-to-cover ratio is presently 1.4 days.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of BranchOut Food from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of BranchOut Food in a report on Wednesday, June 24th. Finally, Lake Street Capital initiated coverage on BranchOut Food in a research note on Monday, August 3rd. They issued a “buy” rating and a $6.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Get Our Latest Stock Analysis on BranchOut Food

Institutional Trading of BranchOut Food

Several hedge funds have recently bought and sold shares of the stock. Bard Associates Inc. purchased a new position in shares of BranchOut Food during the fourth quarter valued at about $3,290,000. Stifel Financial Corp increased its stake in BranchOut Food by 276.6% in the 4th quarter. Stifel Financial Corp now owns 386,000 shares of the company’s stock worth $1,227,000 after acquiring an additional 283,500 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of BranchOut Food during the 1st quarter worth approximately $569,000. Corsair Capital Management L.P. bought a new position in shares of BranchOut Food during the 1st quarter valued at approximately $330,000. Finally, Renaissance Technologies LLC purchased a new position in shares of BranchOut Food in the fourth quarter valued at $148,000. Hedge funds and other institutional investors own 2.59% of the company’s stock.

BranchOut Food Price Performance

BranchOut Food stock traded down $0.07 during mid-day trading on Tuesday, hitting $3.91. The stock had a trading volume of 11,563 shares, compared to its average volume of 73,360. BranchOut Food has a one year low of $1.93 and a one year high of $5.25. The company has a current ratio of 1.03, a quick ratio of 0.60 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $59.90 million, a P/E ratio of -6.52 and a beta of 0.65. The firm’s 50 day moving average is $4.19 and its 200 day moving average is $3.89.

BranchOut Food (NASDAQ:BOFGet Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.02. BranchOut Food had a negative return on equity of 153.95% and a negative net margin of 56.77%.The company had revenue of $4.46 million for the quarter, compared to analysts’ expectations of $4.00 million.

BranchOut Food Company Profile

(Get Free Report)

BranchOut Food Inc develops, markets, sells, and distributes plant-based dehydrated fruit and vegetable snacks, and powders in the United States. The company offers dehydrated fruit and vegetable-based snacks, including avocado chips, chewy banana bites, pineapple chips, brussels sprout crisps, and bell pepper crisps; avocado, banana, and blueberry powders; and industrial ingredients, such as bulk avocado powder, dried avocado pieces, and other fruit powders/pieces. It also provides chocolate covered fruit items and private label products for retailers.

Further Reading

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