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

BranchOut Food Inc. (NASDAQ:BOF) was the recipient of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 77,723 shares, a decrease of 40.8% from the February 12th total of 131,363 shares. Based on an average daily trading volume, of 111,344 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.7% of the company’s stock are short sold. Currently, 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 111,344 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in BranchOut Food in the fourth quarter worth approximately $35,000. Nwam LLC bought a new position in shares of BranchOut Food during the 4th quarter valued at $39,000. Crewe Advisors LLC purchased a new position in shares of BranchOut Food in the 4th quarter worth $41,000. Cascade Financial Partners LLC purchased a new position in shares of BranchOut Food in the 3rd quarter worth $51,000. Finally, Quadrature Capital Ltd purchased a new stake in BranchOut Food during the fourth quarter valued at $59,000. 2.59% of the stock is owned by hedge funds and other institutional investors.

BranchOut Food Stock Performance

NASDAQ BOF traded down $0.09 during trading hours on Friday, hitting $3.70. The company’s stock had a trading volume of 31,205 shares, compared to its average volume of 87,906. BranchOut Food has a 12 month low of $1.53 and a 12 month high of $4.95. The company’s 50 day simple moving average is $3.42 and its two-hundred day simple moving average is $2.95. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.63 and a quick ratio of 1.02. The company has a market cap of $49.63 million, a P/E ratio of -6.17 and a beta of 0.30.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of BranchOut Food in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, BranchOut Food currently has a consensus 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.