Borealis Foods Inc. (NASDAQ:BRLS) Sees Significant Growth in Short Interest

Borealis Foods Inc. (NASDAQ:BRLS) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 458,168 shares, a growth of 880.8% from the January 29th total of 46,712 shares. Approximately 6.2% of the company’s stock are short sold. Based on an average daily trading volume, of 8,629,147 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 8,629,147 shares, the short-interest ratio is currently 0.1 days. Approximately 6.2% of the company’s stock are short sold.

Borealis Foods Trading Down 13.4%

NASDAQ BRLS traded down $0.25 during trading on Wednesday, reaching $1.62. The company’s stock had a trading volume of 117,547 shares, compared to its average volume of 2,445,607. The stock has a market capitalization of $34.77 million, a PE ratio of -1.88 and a beta of 0.32. Borealis Foods has a 1-year low of $0.60 and a 1-year high of $7.05. The business has a 50-day moving average price of $1.42 and a 200-day moving average price of $2.34.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Borealis Foods in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Borealis Foods presently has a consensus rating of “Sell”.

About Borealis Foods

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. The company distributes its products via retail partners across the U.S., Canada, Mexico and Europe and also sells its products online.