BranchOut Food Inc. (NASDAQ:BOF) Sees Large Growth in Short Interest

BranchOut Food Inc. (NASDAQ:BOF) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 178,000 shares, an increase of 27.4% from the January 31st total of 139,700 shares. Based on an average daily volume of 197,300 shares, the short-interest ratio is currently 0.9 days. Currently, 3.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new position in BranchOut Food during the fourth quarter worth about $112,000. Renaissance Technologies LLC acquired a new position in BranchOut Food in the fourth quarter valued at about $26,000. NewEdge Advisors LLC acquired a new position in BranchOut Food in the fourth quarter valued at about $45,000. Finally, Virtu Financial LLC purchased a new position in BranchOut Food during the third quarter worth about $25,000. Hedge funds and other institutional investors own 2.59% of the company’s stock.

BranchOut Food Price Performance

BranchOut Food stock traded down $0.01 during midday trading on Thursday, reaching $1.89. The company had a trading volume of 17,650 shares, compared to its average volume of 2,461,952. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.27 and a quick ratio of 0.95. BranchOut Food has a 12-month low of $0.61 and a 12-month high of $4.11. The company has a market capitalization of $16.13 million, a P/E ratio of -1.81 and a beta of 1.14. The firm’s fifty day simple moving average is $2.00 and its 200-day simple moving average is $1.85.

BranchOut Food Company Profile

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.