Tofutti Brands (OTCMKTS:TOFB) Shares Up 5.4% – Here’s What Happened

Tofutti Brands Inc. (OTCMKTS:TOFB)’s stock price shot up 5.4% during mid-day trading on Wednesday . The company traded as high as $0.6850 and last traded at $0.6850. 650 shares changed hands during trading, an increase of 172% from the average daily volume of 239 shares. The stock had previously closed at $0.65.

Tofutti Brands Trading Up 5.4%

The stock has a market capitalization of $3.53 million, a PE ratio of -4.03 and a beta of 0.77. The firm’s fifty day moving average is $0.66 and its 200-day moving average is $0.69.

Tofutti Brands (OTCMKTS:TOFB) last announced its earnings results on Monday, May 18th. The company reported ($0.05) earnings per share for the quarter. The company had revenue of $1.56 million for the quarter. Tofutti Brands had a negative return on equity of 36.07% and a negative net margin of 11.25%.

Tofutti Brands Company Profile

Tofutti Brands Inc is a specialty food company focused on the development, manufacturing and marketing of non-dairy frozen desserts and cheese alternatives. Founded in the early 1980s by David Mintz, the company pioneered plant-based frozen novelties and spreadable products designed to appeal to consumers seeking lactose-free, vegan and kosher options. Its product portfolio includes frozen desserts such as “Cuties” ice cream bars, “Cutiecups” novelty cups, and a range of dairy-free cream cheeses, sour creams and mozzarella-style shreds under the Tofutti Better Than™ brand.

Manufacturing operations are based in East Hanover, New Jersey, and the company distributes its products through major supermarket chains, natural food stores and foodservice channels across North America.