BranchOut Food Inc. (NASDAQ:BOF) Short Interest Update

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

Institutional Investors Weigh In On BranchOut Food

A number of hedge funds and other institutional investors have recently modified their holdings of BOF. Bard Associates Inc. bought a new position in BranchOut Food during the 2nd quarter worth approximately $4,740,000. Sei Investments Co. purchased a new position in BranchOut Food in the 1st quarter worth approximately $569,000. Renaissance Technologies LLC lifted its position in BranchOut Food by 73.0% in the first quarter. Renaissance Technologies LLC now owns 80,427 shares of the company’s stock valued at $265,000 after purchasing an additional 33,927 shares during the last quarter. Corsair Capital Management L.P. bought a new stake in BranchOut Food in the first quarter valued at approximately $330,000. Finally, Nwam LLC purchased a new stake in shares of BranchOut Food during the fourth quarter valued at approximately $39,000. Institutional investors own 2.59% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BOF. Lake Street Capital started coverage on BranchOut Food in a research note on Monday, August 3rd. They set a “buy” rating and a $6.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of BranchOut Food in a research note on Wednesday, June 24th. Finally, Wall Street Zen raised BranchOut Food from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, BranchOut Food has a consensus rating of “Hold” and an average target price of $6.00.

BranchOut Food Price Performance

Shares of BranchOut Food stock opened at $3.91 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.60 and a current ratio of 1.03. BranchOut Food has a 52-week low of $1.93 and a 52-week high of $5.25. The company has a fifty day moving average of $4.19 and a 200-day moving average of $3.90. The stock has a market capitalization of $59.90 million, a price-to-earnings ratio of -6.52 and a beta of 0.64.

BranchOut Food (NASDAQ:BOF) last issued its 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. The company had revenue of $4.46 million for the quarter, compared to analysts’ expectations of $4.00 million. BranchOut Food had a negative net margin of 56.77% and a negative return on equity of 153.95%.

BranchOut Food Company Profile

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.