BranchOut Food Inc. (NASDAQ:BOF) Sees Significant Increase in Short Interest

BranchOut Food Inc. (NASDAQ:BOF) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 131,363 shares, an increase of 21.8% from the January 29th total of 107,832 shares. Based on an average daily trading volume, of 82,362 shares, the short-interest ratio is presently 1.6 days. Currently, 1.2% of the company’s shares are sold short. Currently, 1.2% of the company’s shares are sold short. Based on an average daily trading volume, of 82,362 shares, the short-interest ratio is presently 1.6 days.

Hedge Funds Weigh In On BranchOut Food

A number of institutional investors have recently bought and sold shares of BOF. Evernest Financial Advisors LLC increased its holdings in shares of BranchOut Food by 579.6% during the 3rd quarter. Evernest Financial Advisors LLC now owns 176,700 shares of the company’s stock worth $362,000 after acquiring an additional 150,700 shares during the last quarter. Cascade Financial Partners LLC acquired a new stake in BranchOut Food during the 3rd quarter valued at $51,000. Stifel Financial Corp boosted its position 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 purchasing an additional 283,500 shares during the period. Renaissance Technologies LLC acquired a new position in shares of BranchOut Food in the fourth quarter valued at $148,000. Finally, Jane Street Group LLC acquired a new position in shares of BranchOut Food in the fourth quarter valued at $82,000. Institutional investors and hedge funds own 2.59% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BranchOut Food in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

BranchOut Food Price Performance

NASDAQ:BOF opened at $3.61 on Friday. BranchOut Food has a 52-week low of $1.53 and a 52-week high of $4.95. The company has a market cap of $48.41 million, a P/E ratio of -6.02 and a beta of 0.30. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.02 and a current ratio of 1.63. The stock’s 50-day simple moving average is $3.36 and its 200 day simple moving average is $2.89.

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.