Short Interest in BranchOut Food Inc. (NASDAQ:BOF) Increases By 191.6%

BranchOut Food Inc. (NASDAQ:BOF) was the target of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 107,832 shares, a growth of 191.6% from the January 15th total of 36,983 shares. Based on an average trading volume of 118,915 shares, the short-interest ratio is currently 0.9 days. Approximately 1.0% of the shares of the company are sold short. Approximately 1.0% of the shares of the company are sold short. Based on an average trading volume of 118,915 shares, the short-interest ratio is currently 0.9 days.

Hedge Funds Weigh In On BranchOut Food

Several large investors have recently made changes to their positions in BOF. State Street Corp grew its position in shares of BranchOut Food by 82.7% during 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 in the last quarter. Nwam LLC bought a new position in BranchOut Food in the 4th quarter worth approximately $39,000. Crewe Advisors LLC bought a new position in BranchOut Food in the 4th quarter worth approximately $41,000. Cascade Financial Partners LLC purchased a new stake in BranchOut Food during the 3rd quarter valued at approximately $51,000. Finally, Jane Street Group LLC bought a new stake in shares of BranchOut Food during the fourth quarter valued at approximately $82,000. 2.59% of the stock is currently owned by hedge funds and other institutional investors.

BranchOut Food Price Performance

NASDAQ BOF opened at $3.17 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.02 and a debt-to-equity ratio of 0.67. BranchOut Food has a 12 month low of $1.53 and a 12 month high of $3.66. The stock has a market cap of $42.51 million, a price-to-earnings ratio of -5.28 and a beta of 0.63. The company’s 50 day moving average is $3.17 and its two-hundred day moving average is $2.72.

BranchOut Food (NASDAQ:BOF) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.14) earnings per share (EPS) for the quarter. BranchOut Food had a negative return on equity of 150.04% and a negative net margin of 49.75%.The firm had revenue of $3.22 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of BranchOut Food in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently 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.