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

BranchOut Food Inc. (NASDAQ:BOF) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 50,777 shares, a growth of 68.2% from the April 30th total of 30,191 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 116,506 shares, the days-to-cover ratio is presently 0.4 days.

BranchOut Food Stock Performance

BOF opened at $3.75 on Thursday. The business’s 50-day moving average price is $3.66 and its two-hundred day moving average price is $3.46. BranchOut Food has a 1 year low of $1.91 and a 1 year high of $4.95. The company has a market capitalization of $57.45 million, a price-to-earnings ratio of -6.36 and a beta of 0.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.87 and a quick ratio of 0.42.

BranchOut Food (NASDAQ:BOF) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter. BranchOut Food had a negative net margin of 53.27% and a negative return on equity of 138.86%. The firm had revenue of $2.61 million during the quarter.

Insider Buying and Selling

In related news, major shareholder Daniel Louis Kaufman sold 213,830 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $3.26, for a total transaction of $697,085.80. Following the sale, the insider owned 1,689,676 shares of the company’s stock, valued at approximately $5,508,343.76. This trade represents a 11.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 21.50% of the company’s stock.

Institutional Trading of BranchOut Food

A number of hedge funds and other institutional investors have recently modified their holdings of BOF. Bard Associates Inc. acquired a new stake in shares of BranchOut Food in the fourth quarter valued at about $3,290,000. Stifel Financial Corp increased its position in shares of BranchOut Food by 276.6% in the fourth quarter. Stifel Financial Corp now owns 386,000 shares of the company’s stock valued at $1,227,000 after acquiring an additional 283,500 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of BranchOut Food in the first quarter valued at about $569,000. Evernest Financial Advisors LLC increased its position in shares of BranchOut Food by 579.6% in the third quarter. Evernest Financial Advisors LLC now owns 176,700 shares of the company’s stock valued at $362,000 after acquiring an additional 150,700 shares during the last quarter. Finally, Corsair Capital Management L.P. acquired a new stake in shares of BranchOut Food in the first quarter valued at about $330,000. Institutional investors and hedge funds own 2.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on BOF shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BranchOut Food in a research note on Friday, March 27th. Wall Street Zen downgraded BranchOut Food from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

BranchOut Food Company Profile

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.