BranchOut Food (NASDAQ:BOF) Stock Price Up 2.6% – Should You Buy?

BranchOut Food Inc. (NASDAQ:BOF)’s share price rose 2.6% during trading on Thursday . The stock traded as high as $2.79 and last traded at $2.77. Approximately 52,737 shares changed hands during trading, a decline of 97% from the average daily volume of 1,969,420 shares. The stock had previously closed at $2.70.

Analyst Upgrades and Downgrades

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

BranchOut Food Stock Up 2.6%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.49 and a current ratio of 0.68. The company has a market cap of $26.54 million, a P/E ratio of -3.96 and a beta of 0.57. The stock has a 50 day moving average price of $2.07 and a 200 day moving average price of $2.02.

BranchOut Food (NASDAQ:BOF) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.11) earnings per share (EPS) for the quarter. BranchOut Food had a negative net margin of 56.05% and a negative return on equity of 189.91%.

Institutional Investors Weigh In On BranchOut Food

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

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.