BranchOut Food (NASDAQ:BOF) Earns Buy Rating from Analysts at Lake Street Capital

Lake Street Capital initiated coverage on shares of BranchOut Food (NASDAQ:BOF) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. Lake Street Capital’s target price indicates a potential upside of 53.45% from the stock’s current price.

A number of other analysts have also recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of BranchOut Food in a research report on Wednesday, June 24th. Wall Street Zen raised shares of BranchOut Food from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, BranchOut Food presently has a consensus rating of “Hold” and a consensus target price of $6.00.

BranchOut Food Price Performance

BOF opened at $3.91 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 0.27. BranchOut Food has a 1-year low of $1.93 and a 1-year high of $5.25. The company has a market capitalization of $59.89 million, a PE ratio of -6.63 and a beta of 0.58. The firm’s 50 day simple moving average is $4.02 and its two-hundred day simple moving average is $3.74.

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

Insider Buying and Selling

In other BranchOut Food news, major shareholder Daniel Louis Kaufman sold 255,951 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $3.29, for a total transaction of $842,078.79. Following the sale, the insider directly owned 1,403,506 shares of the company’s stock, valued at $4,617,534.74. The trade was a 15.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 21.50% of the company’s stock.

Hedge Funds Weigh In On BranchOut Food

Several large investors have recently modified their holdings of BOF. Bard Associates Inc. purchased a new stake in BranchOut Food during the 4th quarter valued at $3,290,000. Stifel Financial Corp boosted its stake in BranchOut Food by 276.6% during the fourth quarter. Stifel Financial Corp now owns 386,000 shares of the company’s stock worth $1,227,000 after buying an additional 283,500 shares during the period. Sei Investments Co. bought a new position in BranchOut Food during the first quarter valued at $569,000. Corsair Capital Management L.P. bought a new position in BranchOut Food during the first quarter valued at $330,000. Finally, Renaissance Technologies LLC increased its position in BranchOut Food by 73.0% during the first quarter. Renaissance Technologies LLC now owns 80,427 shares of the company’s stock valued at $265,000 after acquiring an additional 33,927 shares during the last quarter. Institutional investors own 2.59% of the company’s stock.

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.