Borealis Foods (NASDAQ:BRLS) Posts Quarterly Earnings Results

Borealis Foods (NASDAQ:BRLS) posted its quarterly earnings results on Wednesday. The company reported ($0.18) earnings per share (EPS) for the quarter, Zacks reports. Borealis Foods had a negative return on equity of 892.35% and a negative net margin of 65.11%.The firm had revenue of $7.36 million for the quarter.

Borealis Foods Trading Down 29.9%

Borealis Foods stock opened at $2.09 on Friday. The stock has a market cap of $44.68 million, a P/E ratio of -2.43 and a beta of 0.31. The company has a 50-day moving average price of $3.16 and a 200 day moving average price of $3.59. Borealis Foods has a 12-month low of $1.81 and a 12-month high of $7.49.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Borealis Foods in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Borealis Foods Company Profile

Borealis Foods Inc operates as a food technology company that develops plant-based ready-to-eat meals. The company also developed ambient ready-to-eat high-protein meals for U.S. and global humanitarian food programs. Its products include Chef Woo, a plant based instant ramen meals that provides with 20 grams of plant-based complete protein; and Ramen Express, a vegetarian ramen noodles.