Borealis Foods (NASDAQ:BRLS) Stock Price Down 2.8% - Here's What Happened

Key Points

• Borealis Foods Inc.'s stock price dropped by 2.8% to $2.82, with a trading volume significantly lower than usual, indicating possible investor concerns.
• The company reported a negative EPS of ($0.21) and a net margin of –68.06% for the latest quarter, raising questions about its financial health.
• With a market cap of $60.29 million and a PE ratio of -3.10, Borealis Foods is navigating a challenging market environment for its plant-based meal products.

Shares of Borealis Foods Inc. (NASDAQ:BRLS - Get Free Report) dropped 2.8% on Thursday . The company traded as low as $2.82 and last traded at $2.82. Approximately 3,588 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 10,659 shares. The stock had previously closed at $2.90.

Borealis Foods Stock Up 1.4%

The business has a fifty day moving average price of $3.25 and a two-hundred day moving average price of $4.78.

Borealis Foods (NASDAQ:BRLS - Get Free Report) last issued its earnings results on Tuesday, August 19th. The company reported ($0.21) EPS for the quarter. Borealis Foods had a negative return on equity of 892.35% and a negative net margin of 68.06%.The company had revenue of $7.19 million during the quarter.

About Borealis Foods

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.