Tofutti Brands (OTCMKTS:TOFB) Stock Jumps 17.3% – What’s Next?

Shares of Tofutti Brands Inc. (OTCMKTS:TOFB) shot up 17.3% during mid-day trading on Wednesday. The stock traded as high as $0.38 and last traded at $0.38. 100 shares changed hands during trading, a decline of 92% from the average daily volume of 1,248 shares. The stock had previously closed at $0.3239.

Tofutti Brands Price Performance

The stock has a market capitalization of $1.96 million, a P/E ratio of -2.00 and a beta of 0.77. The stock has a 50 day moving average price of $0.39 and a 200-day moving average price of $0.60.

Tofutti Brands (OTCMKTS:TOFB) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.02) EPS for the quarter. The business had revenue of $1.79 million for the quarter. Tofutti Brands had a negative net margin of 13.09% and a negative return on equity of 45.27%.

Tofutti Brands Company Profile

Tofutti Brands Inc develops, manufactures and markets dairy-free and plant-based food products under the Tofutti brand. Its product portfolio includes frozen desserts, non-dairy sour cream and cream cheese alternatives, ricotta-style products, and other vegan substitutes for traditional dairy foods. Many of its products are also positioned as kosher and suitable for consumers seeking lactose-free or plant-based options.

The company was founded in 1981 by David Mintz, who helped popularize soy-based frozen desserts and other non-dairy foods.