Short Interest in Borealis Foods Inc. (NASDAQ:BRLS) Decreases By 62.0%

Borealis Foods Inc. (NASDAQ:BRLS) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 59,971 shares, a decline of 62.0% from the August 15th total of 157,953 shares. Based on an average trading volume of 4,589,362 shares, the short-interest ratio is currently 0.0 days. Approximately 0.3% of the company’s stock are sold short.

Borealis Foods Price Performance

Shares of NASDAQ:BRLS traded down $0.04 during trading on Monday, hitting $1.36. 5,531 shares of the company’s stock were exchanged, compared to its average volume of 913,584. Borealis Foods has a 52-week low of $0.60 and a 52-week high of $5.02. The business’s 50-day simple moving average is $1.05 and its 200 day simple moving average is $1.30. The company has a market cap of $29.21 million, a price-to-earnings ratio of -1.60 and a beta of 0.45.

Borealis Foods (NASDAQ:BRLS) last issued its 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.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Borealis Foods in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

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.