Tofutti Brands (OTCMKTS:TOFB) Stock Price Up 5.4% – Time to Buy?

Tofutti Brands Inc. (OTCMKTS:TOFB) shot up 5.4% on Wednesday . The company traded as high as $0.6850 and last traded at $0.6850. Approximately 650 shares changed hands during trading, an increase of 172% from the average daily volume of 239 shares. The stock had previously closed at $0.65.

Tofutti Brands Trading Up 5.6%

The company has a market capitalization of $2.45 million, a P/E ratio of -2.79 and a beta of 0.77. The stock has a 50 day moving average price of $0.65 and a 200 day moving average price of $0.69.

Tofutti Brands (OTCMKTS:TOFB) last issued its quarterly earnings data on Monday, May 18th. The company reported ($0.05) earnings per share for the quarter. Tofutti Brands had a negative return on equity of 36.07% and a negative net margin of 11.25%.The firm had revenue of $1.56 million for the quarter.

About Tofutti Brands

Tofutti Brands Inc is a specialty food company focused on the development, manufacturing and marketing of non-dairy frozen desserts and cheese alternatives. Founded in the early 1980s by David Mintz, the company pioneered plant-based frozen novelties and spreadable products designed to appeal to consumers seeking lactose-free, vegan and kosher options. Its product portfolio includes frozen desserts such as “Cuties” ice cream bars, “Cutiecups” novelty cups, and a range of dairy-free cream cheeses, sour creams and mozzarella-style shreds under the Tofutti Better Than™ brand.

Manufacturing operations are based in East Hanover, New Jersey, and the company distributes its products through major supermarket chains, natural food stores and foodservice channels across North America.