BranchOut Food Inc. (NASDAQ:BOF – Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 69,402 shares, a growth of 67.2% from the September 30th total of 41,508 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 82,912 shares, the days-to-cover ratio is currently 0.8 days.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in BOF. BlackRock Inc. acquired a new position in BranchOut Food during the 2nd quarter worth $185,000. Renaissance Technologies LLC grew its stake in shares of BranchOut Food by 73.0% in the first quarter. Renaissance Technologies LLC now owns 80,427 shares of the company’s stock worth $265,000 after purchasing an additional 33,927 shares in the last quarter. Corsair Capital Management L.P. acquired a new position in shares of BranchOut Food during the first quarter valued at $330,000. Sei Investments Co. acquired a new position in shares of BranchOut Food during the first quarter valued at $569,000. Finally, Bard Associates Inc. acquired a new position in shares of BranchOut Food during the second quarter valued at $4,740,000. Institutional investors and hedge funds own 2.59% of the company’s stock.
BranchOut Food Price Performance
NASDAQ BOF opened at $1.72 on Monday. The company has a 50-day moving average price of $3.31 and a two-hundred day moving average price of $3.66. BranchOut Food has a 52 week low of $1.67 and a 52 week high of $5.25. The stock has a market cap of $27.97 million, a price-to-earnings ratio of -2.87 and a beta of 0.95. The company has a current ratio of 1.03, a quick ratio of 0.60 and a debt-to-equity ratio of 0.34.
BranchOut Food (NASDAQ:BOF – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.02. The company had revenue of $4.46 million for the quarter, compared to analysts’ expectations of $4.00 million. BranchOut Food had a negative return on equity of 153.95% and a negative net margin of 56.77%.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Lake Street Capital started coverage on BranchOut Food in a report on Monday, August 3rd. They issued a “buy” rating and a $6.00 price target on the stock. Wall Street Zen upgraded BranchOut Food from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BranchOut Food in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.00.
Get Our Latest Report on BranchOut Food
BranchOut Food Company Profile
BranchOut Food Inc is a food technology company that develops, manufactures and sells dehydrated fruit and vegetable products. Its portfolio includes shelf-stable snacks, fruit-based products and vegetable ingredients designed for use by consumers, retailers and food manufacturers.
The company uses proprietary dehydration technology intended to preserve the flavor, color, texture and nutritional characteristics of fresh produce while extending shelf life. BranchOut Food offers products under its own brand and works with business customers on private-label and ingredient applications.
BranchOut Food distributes its products through retail, foodservice, e-commerce and industrial channels.
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