BranchOut Food Inc. (NASDAQ:BOF) Short Interest Up 68.2% in May

BranchOut Food Inc. (NASDAQ:BOF) was the recipient of a significant increase in short interest in 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 stock are sold short. Based on an average daily trading volume, of 116,506 shares, the short-interest ratio is currently 0.4 days.

BranchOut Food Stock Performance

BranchOut Food stock opened at $3.78 on Friday. The firm has a 50 day simple moving average of $3.67 and a 200-day simple moving average of $3.46. The stock has a market cap of $57.91 million, a price-to-earnings ratio of -6.41 and a beta of 0.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.87 and a quick ratio of 0.42. BranchOut Food has a 1-year low of $1.91 and a 1-year high of $4.95.

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

Analysts Set New Price Targets

BOF has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of BranchOut Food from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of BranchOut Food in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, BranchOut Food currently has a consensus rating of “Sell”.

Insider Buying and Selling at BranchOut Food

In related news, major shareholder Daniel Louis Kaufman sold 255,951 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $3.29, for a total transaction of $842,078.79. Following the transaction, the insider directly owned 1,403,506 shares in the company, valued at approximately $4,617,534.74. The trade was a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.50% of the company’s stock.

Hedge Funds Weigh In On BranchOut Food

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in BranchOut Food in the fourth quarter valued at about $35,000. Nwam LLC acquired a new stake in shares of BranchOut Food during the fourth quarter valued at about $39,000. Crewe Advisors LLC purchased a new stake in shares of BranchOut Food in the 4th quarter valued at approximately $41,000. Quadrature Capital Ltd purchased a new stake in shares of BranchOut Food in the 4th quarter valued at approximately $59,000. Finally, State Street Corp lifted its holdings in shares of BranchOut Food by 82.7% in the 4th quarter. State Street Corp now owns 24,300 shares of the company’s stock worth $77,000 after acquiring an additional 11,000 shares during the last quarter. 2.59% of the stock is currently owned by hedge funds and other 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.