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

Borealis Foods Inc. (NASDAQ:BRLS) 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 trading volume of 4,589,362 shares, the short-interest ratio is currently 0.0 days. Currently, 0.3% of the company’s shares are sold short.

Borealis Foods Stock Down 2.1%

Shares of BRLS stock traded down $0.03 on Friday, hitting $1.40. The stock had a trading volume of 3,630 shares, compared to its average volume of 2,549,756. The business has a 50 day moving average price of $1.05 and a 200 day moving average price of $1.30. The company has a market cap of $30.04 million, a PE ratio of -1.65 and a beta of 0.45. Borealis Foods has a one year low of $0.60 and a one year high of $5.02.

Borealis Foods (NASDAQ:BRLS) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.16) earnings per share for the quarter. The company had revenue of $7.37 million for the quarter.

Analysts Set New Price Targets

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

About Borealis Foods

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.