Short Interest in BranchOut Food Inc. (NASDAQ:BOF) Drops By 40.8%

BranchOut Food Inc. (NASDAQ:BOF) was the target of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 77,723 shares, a decline of 40.8% from the February 12th total of 131,363 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 111,344 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily volume of 111,344 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.7% of the shares of the company are sold short.

Institutional Investors Weigh In On BranchOut Food

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in BranchOut Food in the 4th quarter worth approximately $35,000. Nwam LLC bought a new position in shares of BranchOut Food in the fourth quarter worth approximately $39,000. Crewe Advisors LLC purchased a new stake in shares of BranchOut Food in the fourth quarter worth $41,000. Quadrature Capital Ltd purchased a new stake in shares of BranchOut Food in the fourth quarter worth $59,000. Finally, State Street Corp raised its position in shares of BranchOut Food by 82.7% during the 4th quarter. State Street Corp now owns 24,300 shares of the company’s stock valued at $77,000 after purchasing an additional 11,000 shares during the period. 2.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of BranchOut Food in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, BranchOut Food presently has an average rating of “Sell”.

BranchOut Food Stock Performance

NASDAQ:BOF traded down $0.09 during mid-day trading on Friday, hitting $3.70. 31,205 shares of the company traded hands, compared to its average volume of 87,906. The company has a quick ratio of 1.02, a current ratio of 1.63 and a debt-to-equity ratio of 0.67. The stock’s fifty day moving average price is $3.42 and its 200-day moving average price is $2.95. The firm has a market cap of $49.63 million, a price-to-earnings ratio of -6.17 and a beta of 0.30. BranchOut Food has a one year low of $1.53 and a one year high of $4.95.

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.