BranchOut Food Inc. (NASDAQ:BOF) Sees Significant Growth in Short Interest

BranchOut Food Inc. (NASDAQ:BOF) was the recipient of a large growth in short interest in January. As of January 30th, there was short interest totaling 107,832 shares, a growth of 191.6% from the January 15th total of 36,983 shares. Currently, 1.0% of the company’s shares are short sold. Based on an average daily volume of 118,915 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 118,915 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.0% of the company’s shares are short sold.

BranchOut Food Stock Performance

Shares of BOF stock opened at $2.89 on Thursday. The company has a market capitalization of $38.75 million, a price-to-earnings ratio of -4.82 and a beta of 0.63. BranchOut Food has a 1-year low of $1.53 and a 1-year high of $3.66. The company has a current ratio of 1.63, a quick ratio of 1.02 and a debt-to-equity ratio of 0.67. The stock’s fifty day simple moving average is $3.18 and its 200-day simple moving average is $2.71.

BranchOut Food (NASDAQ:BOF) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.14) earnings per share (EPS) for the quarter. BranchOut Food had a negative return on equity of 150.04% and a negative net margin of 49.75%.The business had revenue of $3.22 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of BranchOut Food in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Trading of BranchOut Food

Several institutional investors have recently made changes to their positions in the stock. Evernest Financial Advisors LLC boosted its holdings in shares of BranchOut Food by 579.6% during the third quarter. Evernest Financial Advisors LLC now owns 176,700 shares of the company’s stock worth $362,000 after purchasing an additional 150,700 shares during the period. Cascade Financial Partners LLC purchased a new stake in BranchOut Food in the 3rd quarter worth approximately $51,000. Crewe Advisors LLC purchased a new stake in BranchOut Food in the 4th quarter worth approximately $41,000. Finally, Nwam LLC acquired a new stake in shares of BranchOut Food during the 4th quarter valued at $39,000. 2.59% of the stock is currently owned by institutional investors and hedge funds.

About BranchOut Food

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.