BranchOut Food Inc. (NASDAQ:BOF) Short Interest Down 79.4% in May

BranchOut Food Inc. (NASDAQ:BOF) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 32,000 shares, a decline of 79.4% from the May 15th total of 155,700 shares. Based on an average daily volume of 137,500 shares, the short-interest ratio is currently 0.2 days. Approximately 0.5% of the shares of the company are sold short.

Institutional Investors Weigh In On BranchOut Food

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new position in shares of BranchOut Food in the fourth quarter valued at approximately $26,000. NewEdge Advisors LLC purchased a new stake in BranchOut Food in the 4th quarter worth approximately $45,000. XTX Topco Ltd purchased a new stake in BranchOut Food in the 1st quarter worth approximately $69,000. Citadel Advisors LLC bought a new position in BranchOut Food in the 4th quarter valued at $112,000. Finally, Evernest Financial Advisors LLC purchased a new position in shares of BranchOut Food during the 1st quarter valued at $386,000. 2.59% of the stock is currently owned by institutional investors.

BranchOut Food Price Performance

BranchOut Food stock opened at $1.98 on Thursday. The firm has a market capitalization of $18.98 million, a P/E ratio of -1.90 and a beta of 0.24. BranchOut Food has a one year low of $0.61 and a one year high of $4.11. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.27 and a quick ratio of 0.95. The business has a fifty day moving average price of $1.97 and a 200-day moving average price of $1.97.

BranchOut Food (NASDAQ:BOF) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.11) earnings per share (EPS) for the quarter. BranchOut Food had a negative return on equity of 255.53% and a negative net margin of 72.96%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of BranchOut Food from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

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.