Short Interest in BranchOut Food Inc. (NASDAQ:BOF) Increases By 5,802.8%

BranchOut Food Inc. (NASDAQ:BOF) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,700,000 shares, a growth of 5,802.8% from the August 15th total of 28,800 shares. Based on an average daily trading volume, of 6,860,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 41.6% of the shares of the stock are sold short.

BranchOut Food Stock Performance

BranchOut Food stock opened at $2.20 on Friday. The company has a market cap of $9.37 million, a PE ratio of -1.69 and a beta of 0.66. The company has a current ratio of 2.02, a quick ratio of 1.80 and a debt-to-equity ratio of 0.04. BranchOut Food has a 1 year low of $0.61 and a 1 year high of $4.11. The company’s 50-day moving average is $1.13 and its two-hundred day moving average is $1.53.

BranchOut Food (NASDAQ:BOF) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter. BranchOut Food had a negative return on equity of 175.74% and a negative net margin of 79.93%. The business had revenue of $1.36 million for the quarter.

Insider Buying and Selling

In related news, Director Byron Riche Jones acquired 41,755 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was purchased at an average price of $0.99 per share, for a total transaction of $41,337.45. Following the transaction, the director now directly owns 145,834 shares of the company’s stock, valued at approximately $144,375.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 30.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BranchOut Food stock. Greenwood Gearhart Inc. bought a new stake in BranchOut Food Inc. (NASDAQ:BOF) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 94,949 shares of the company’s stock, valued at approximately $66,000. Greenwood Gearhart Inc. owned approximately 2.23% of BranchOut Food as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other 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.