Borealis Foods (NASDAQ:BRLS) Trading Up 11.3% – Still a Buy?

Borealis Foods Inc. (NASDAQ:BRLS) shares traded up 11.3% on Monday . The stock traded as high as $1.20 and last traded at $1.18. 46,518 shares changed hands during trading, a decline of 98% from the average session volume of 2,538,248 shares. The stock had previously closed at $1.06.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued 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, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Borealis Foods Stock Performance

The firm’s fifty day moving average is $1.07 and its 200-day moving average is $1.31. The company has a market capitalization of $24.25 million, a P/E ratio of -1.33 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 business had revenue of $7.37 million for the quarter.

Borealis Foods Company Profile

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.