Borealis Foods Inc. (NASDAQ:BRLS) Short Interest Up 50.3% in July

Key Points

• Short interest in Borealis Foods Inc. (NASDAQ:BRLS) rose by 50.3% in July, increasing from 14,900 shares to 22,400 shares.
• The company reported a negative net margin of 79.21% and earnings of -$0.20 per share for its last quarter ending May 20th.
• Borealis Foods has a market capitalization of $60.93 million and the stock is currently trading at $2.85.

Borealis Foods Inc. (NASDAQ:BRLS - Get Free Report) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 22,400 shares, agrowthof50.3% from the June 30th total of 14,900 shares. Based on an average daily volume of 49,100 shares, the short-interest ratio is presently 0.5 days. Approximately0.4% of the shares of the company are short sold. Approximately0.4% of the shares of the company are short sold. Based on an average daily volume of 49,100 shares, the short-interest ratio is presently 0.5 days.

Borealis Foods Stock Performance

BRLS traded up $0.10 during mid-day trading on Monday, reaching $2.91. The stock had a trading volume of 789 shares, compared to its average volume of 6,920. The firm's fifty day simple moving average is $3.74 and its two-hundred day simple moving average is $5.08. Borealis Foods has a 52 week low of $2.71 and a 52 week high of $9.18. The stock has a market capitalization of $62.11 million, a P/E ratio of -2.93 and a beta of 0.27.

Borealis Foods (NASDAQ:BRLS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The company reported ($0.20) earnings per share for the quarter. Borealis Foods had a negative net margin of 79.21% and a negative return on equity of 892.35%. The company had revenue of $6.85 million during the quarter.

Borealis Foods Company Profile

Borealis Foods Inc operates as a food technology company that develops plant-based ready-to-eat meals. The company also developed ambient ready-to-eat high-protein meals for U.S. and global humanitarian food programs. Its products include Chef Woo, a plant based instant ramen meals that provides with 20 grams of plant-based complete protein; and Ramen Express, a vegetarian ramen noodles.