BranchOut Food (NASDAQ:BOF) Downgraded to “Strong Sell” Rating by Wall Street Zen

BranchOut Food (NASDAQ:BOF) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Monday.

Separately, Weiss Ratings reissued 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, According to data from MarketBeat, the company currently has an average rating of “Sell”.

BranchOut Food Stock Performance

Shares of BOF stock opened at $4.30 on Monday. The firm has a market cap of $65.86 million, a P/E ratio of -7.29 and a beta of 0.58. The company has a 50 day moving average of $3.83 and a 200-day moving average of $3.66. 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 12-month low of $1.93 and a 12-month high of $5.25.

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

Insider Buying and Selling

In other BranchOut Food news, major shareholder Daniel Louis Kaufman sold 213,830 shares of the stock in a transaction 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 sale, the insider directly owned 1,689,676 shares in the company, valued at approximately $5,508,343.76. This trade represents a 11.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in shares of BranchOut Food in the fourth quarter worth $35,000. Nwam LLC purchased a new position in BranchOut Food during the fourth quarter worth $39,000. Crewe Advisors LLC bought a new position in BranchOut Food during the 4th quarter valued at about $41,000. Quadrature Capital Ltd bought a new stake in shares of BranchOut Food during the 4th quarter worth approximately $59,000. Finally, State Street Corp boosted its stake 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 valued at $77,000 after purchasing an additional 11,000 shares during the period. 2.59% of the stock is currently owned by institutional investors.

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.