BranchOut Food (NASDAQ:BOF) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of BranchOut Food (NASDAQ:BOF) from a strong sell rating to a sell rating in a research report sent to investors on Tuesday morning.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of BranchOut Food in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

BranchOut Food Trading Up 0.7%

Shares of NASDAQ BOF opened at $4.06 on Tuesday. BranchOut Food has a 12 month low of $1.93 and a 12 month high of $5.25. The company has a market cap of $62.20 million, a price-to-earnings ratio of -6.88 and a beta of 0.58. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $3.91 and a 200-day simple moving average of $3.70.

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

Insider Activity at BranchOut Food

In other news, major shareholder Daniel Louis Kaufman sold 255,951 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $3.29, for a total value of $842,078.79. Following the transaction, the insider directly owned 1,403,506 shares of the company’s stock, valued at approximately $4,617,534.74. This represents a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.50% of the stock is currently owned by corporate insiders.

Institutional Trading of BranchOut Food

A number of institutional investors have recently bought and sold shares of the company. Bard Associates Inc. purchased a new position in BranchOut Food in the fourth quarter valued at about $3,290,000. Stifel Financial Corp raised its stake in shares of BranchOut Food by 276.6% during the 4th 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 in the last quarter. Sei Investments Co. acquired a new stake in shares of BranchOut Food during the 1st quarter valued at about $569,000. Corsair Capital Management L.P. acquired a new stake in shares of BranchOut Food during the 1st quarter valued at about $330,000. Finally, Renaissance Technologies LLC grew its stake in shares of BranchOut Food by 73.0% in the 1st quarter. Renaissance Technologies LLC now owns 80,427 shares of the company’s stock valued at $265,000 after buying an additional 33,927 shares in the last quarter. Institutional investors and hedge funds 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.