BranchOut Food Inc. (NASDAQ:BOF) Short Interest Update

BranchOut Food Inc. (NASDAQ:BOF) was the recipient of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 38,124 shares, a decrease of 35.0% from the July 30th total of 58,687 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 26,942 shares, the short-interest ratio is currently 1.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nwam LLC acquired a new position in shares of BranchOut Food in the fourth quarter worth about $39,000. Renaissance Technologies LLC acquired a new stake in shares of BranchOut Food during the 4th quarter valued at about $148,000. Jane Street Group LLC purchased a new position in shares of BranchOut Food in the 4th quarter valued at about $82,000. State Street Corp increased its stake 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 valued at $77,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in BranchOut Food by 276.6% in the 4th quarter. Stifel Financial Corp now owns 386,000 shares of the company’s stock worth $1,227,000 after purchasing an additional 283,500 shares during the period. Hedge funds and other institutional investors own 2.59% of the company’s stock.

Analysts Set New Price Targets

BOF has been the topic of several recent research reports. Lake Street Capital started coverage on shares of BranchOut Food in a report on Monday, August 3rd. They issued a “buy” rating and a $6.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of BranchOut Food in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded BranchOut Food from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, BranchOut Food currently has a consensus rating of “Hold” and an average price target of $6.00.

BranchOut Food Stock Performance

BranchOut Food stock opened at $3.91 on Thursday. The firm has a market cap of $63.58 million, a PE ratio of -6.52 and a beta of 0.64. BranchOut Food has a 12 month low of $1.93 and a 12 month high of $5.25. The stock’s 50 day simple moving average is $4.17 and its two-hundred day simple moving average is $3.91. The company has a current ratio of 1.03, a quick ratio of 0.60 and a debt-to-equity ratio of 0.34.

BranchOut Food (NASDAQ:BOF) last posted its earnings results on Thursday, August 13th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.02. BranchOut Food had a negative net margin of 56.77% and a negative return on equity of 153.95%. The firm had revenue of $4.46 million during the quarter, compared to analyst estimates of $4.00 million.

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.