BranchOut Food Inc. (NASDAQ:BOF) Short Interest Up 68.2% in May

BranchOut Food Inc. (NASDAQ:BOF) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 50,777 shares, a growth of 68.2% from the April 30th total of 30,191 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 116,506 shares, the days-to-cover ratio is presently 0.4 days.

Insider Transactions at BranchOut Food

In other news, major shareholder Daniel Louis Kaufman sold 255,951 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $3.29, for a total transaction of $842,078.79. Following the completion of the sale, the insider directly owned 1,403,506 shares in the company, valued at $4,617,534.74. This represents a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 21.50% of the company’s stock.

Hedge Funds Weigh In On BranchOut Food

Institutional investors have recently modified their holdings of the business. State Street Corp lifted its holdings in BranchOut Food by 82.7% during the fourth quarter. State Street Corp now owns 24,300 shares of the company’s stock worth $77,000 after acquiring an additional 11,000 shares during the period. Virtu Financial LLC bought a new position in BranchOut Food in the 4th quarter valued at $35,000. Nwam LLC bought a new position in BranchOut Food in the 4th quarter valued at $39,000. Crewe Advisors LLC purchased a new stake in shares of BranchOut Food during the 4th quarter valued at $41,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of BranchOut Food during the 4th quarter valued at $59,000. 2.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of BranchOut Food from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BranchOut Food in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

BranchOut Food Stock Down 2.4%

Shares of BranchOut Food stock traded down $0.09 on Wednesday, hitting $3.65. The company had a trading volume of 8,562 shares, compared to its average volume of 87,715. The stock has a market capitalization of $55.92 million, a price-to-earnings ratio of -6.19 and a beta of 0.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.42 and a current ratio of 0.87. BranchOut Food has a 1 year low of $1.91 and a 1 year high of $4.95. The stock has a 50 day moving average of $3.65 and a 200-day moving average of $3.45.

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

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.