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

BranchOut Food Inc. (NASDAQ:BOF) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 50,777 shares, an increase of 68.2% from the April 30th total of 30,191 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average trading volume of 116,506 shares, the short-interest ratio is currently 0.4 days.

BranchOut Food Stock Performance

Shares of NASDAQ BOF traded down $0.09 during mid-day trading on Wednesday, hitting $3.65. The company had a trading volume of 8,562 shares, compared to its average volume of 87,715. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 0.27. 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 $55.92 million, a price-to-earnings ratio of -6.19 and a beta of 0.74. The stock’s 50-day moving average price is $3.65 and its 200-day moving average price is $3.45.

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

Insiders Place Their Bets

In other news, major shareholder Daniel Louis Kaufman sold 255,951 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $3.29, for a total transaction of $842,078.79. Following the completion of the transaction, the insider directly owned 1,403,506 shares of the company’s stock, valued at $4,617,534.74. This represents a 15.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BranchOut Food

Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in BranchOut Food during the fourth quarter worth about $35,000. Nwam LLC bought a new stake in shares of BranchOut Food during the 4th quarter valued at about $39,000. Crewe Advisors LLC bought a new stake in shares of BranchOut Food during the 4th quarter valued at about $41,000. Quadrature Capital Ltd purchased a new position in shares of BranchOut Food during the fourth quarter worth about $59,000. Finally, State Street Corp increased its position in shares of BranchOut Food by 82.7% in the fourth quarter. State Street Corp now owns 24,300 shares of the company’s stock worth $77,000 after purchasing an additional 11,000 shares during the last quarter. Institutional investors own 2.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of BranchOut Food in a report on Friday, March 27th. Wall Street Zen cut BranchOut Food from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

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.