Borealis Foods (NASDAQ:BRLS) Trading 11.3% Higher – Time to Buy?

Borealis Foods Inc. (NASDAQ:BRLS) traded up 11.3% during mid-day trading on Monday . The company traded as high as $1.20 and last traded at $1.18. 46,518 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 2,538,248 shares. The stock had previously closed at $1.06.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Borealis Foods Price Performance

The stock has a fifty day moving average of $1.08 and a 200 day moving average of $1.31. The stock has a market cap of $25.32 million, a price-to-earnings ratio of -1.39 and a beta of 0.38.

Borealis Foods (NASDAQ:BRLS) last issued its quarterly earnings results 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.

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.