BranchOut Food (NASDAQ:BOF) Upgraded to Sell at Wall Street Zen

BranchOut Food (NASDAQ:BOF) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BranchOut Food in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BranchOut Food currently has an average rating of “Sell”.

BranchOut Food Stock Performance

NASDAQ:BOF opened at $4.78 on Friday. The company has a fifty day moving average of $3.77 and a 200-day moving average of $3.62. The firm has a market capitalization of $73.23 million, a P/E ratio of -8.10 and a beta of 0.58. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.27. BranchOut Food has a twelve month low of $1.93 and a twelve month high of $5.25.

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

Insider Buying and Selling

In other news, major shareholder Daniel Louis Kaufman sold 213,830 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $3.26, for a total transaction of $697,085.80. Following the completion of the sale, the insider owned 1,689,676 shares in the company, valued at $5,508,343.76. The trade was a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 21.50% of the company’s stock.

Hedge Funds Weigh In On BranchOut Food

A number of large investors have recently modified their holdings of the company. Bard Associates Inc. acquired a new stake in BranchOut Food in the 4th quarter valued at $3,290,000. Stifel Financial Corp raised its holdings in BranchOut Food by 276.6% during the fourth quarter. Stifel Financial Corp now owns 386,000 shares of the company’s stock worth $1,227,000 after buying an additional 283,500 shares during the last quarter. Sei Investments Co. acquired a new position in BranchOut Food during the first quarter worth $569,000. Corsair Capital Management L.P. bought a new position in shares of BranchOut Food in the first quarter valued at $330,000. Finally, Renaissance Technologies LLC bought a new position in shares of BranchOut Food in the fourth quarter valued at $148,000. 2.59% of the stock is currently owned by institutional investors.

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.