BranchOut Food (NASDAQ:BOF) Major Shareholder Sells $697,085.80 in Stock

BranchOut Food Inc. (NASDAQ:BOF) major shareholder Daniel Louis Kaufman sold 213,830 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $3.26, for a total value of $697,085.80. Following the transaction, the insider owned 1,689,676 shares of the company’s stock, valued at $5,508,343.76. This represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Daniel Louis Kaufman also recently made the following trade(s):

• On Tuesday, May 5th, Daniel Louis Kaufman sold 255,951 shares of BranchOut Food stock. The stock was sold at an average price of $3.29, for a total value of $842,078.79.

BranchOut Food Stock Performance

BranchOut Food stock opened at $3.43 on Friday. The stock has a fifty day moving average price of $3.76 and a two-hundred day moving average price of $3.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.91 and a quick ratio of 0.53. The firm has a market capitalization of $50.01 million, a P/E ratio of -5.81 and a beta of 0.87. BranchOut Food Inc. has a 52-week low of $1.65 and a 52-week high of $4.95.

BranchOut Food (NASDAQ:BOF) last announced its earnings results on Thursday, May 14th. The company reported ($0.12) EPS for the quarter. The business had revenue of $2.61 million for the quarter. BranchOut Food had a negative return on equity of 147.57% and a negative net margin of 53.27%.

Analyst Ratings Changes

Several brokerages have recently commented on BOF. Weiss Ratings restated a “sell (d-)” rating on shares of BranchOut Food in a report on Friday, March 27th. Wall Street Zen cut BranchOut Food from a “hold” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On BranchOut Food

Several hedge funds have recently added to or reduced their stakes in BOF. Bard Associates Inc. bought a new position in BranchOut Food in the fourth quarter valued at about $3,290,000. Stifel Financial Corp boosted its holdings in BranchOut Food by 276.6% in the fourth quarter. Stifel Financial Corp now owns 386,000 shares of the company’s stock valued at $1,227,000 after acquiring an additional 283,500 shares during the last quarter. Sei Investments Co. bought a new position in BranchOut Food in the first quarter valued at about $569,000. Evernest Financial Advisors LLC boosted its holdings in BranchOut Food by 579.6% in the third quarter. Evernest Financial Advisors LLC now owns 176,700 shares of the company’s stock valued at $362,000 after acquiring an additional 150,700 shares during the last quarter. Finally, Corsair Capital Management L.P. bought a new position in BranchOut Food in the first quarter valued at about $330,000. Institutional investors own 2.59% of the company’s stock.

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.