Borealis Foods Inc. (NASDAQ:BRLS) Short Interest Down 62.0% in August

Borealis Foods Inc. (NASDAQ:BRLS – Get Free Report) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totaling 59,971 shares, a decline of 62.0% from the August 15th total of 157,953 shares. Based on an average daily trading volume, of 4,589,362 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Borealis Foods in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

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Borealis Foods Stock Performance

Borealis Foods stock traded down $0.06 during mid-day trading on Tuesday, hitting $1.34. The company’s stock had a trading volume of 4,800 shares, compared to its average volume of 908,444. The stock has a market cap of $28.76 million, a PE ratio of -1.58 and a beta of 0.45. Borealis Foods has a one year low of $0.60 and a one year high of $5.02. The company has a 50 day moving average of $1.06 and a 200-day moving average of $1.29.

Borealis Foods (NASDAQ:BRLS – Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported ($0.16) EPS for the quarter. The business had revenue of $7.37 million for the quarter.

About Borealis Foods

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Borealis Foods Inc operates as a food technology company that develops plant-based ready-to-eat meals. The company also developed ambient ready-to-eat high-protein meals for U.S. and global humanitarian food programs. Its products include Chef Woo, a plant based instant ramen meals that provides with 20 grams of plant-based complete protein; and Ramen Express, a vegetarian ramen noodles. The company distributes its products via retail partners across the U.S., Canada, Mexico and Europe and also sells its products online.

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