Borealis Foods (NASDAQ:BRLS) Trading 4.2% Higher - Still a Buy?

Key Points

• Borealis Foods shares increased by 4.2% to $2.74, despite a 29% decrease in trading volume compared to the daily average.
• The company reported a negative earnings per share of ($0.21) and a negative return on equity of 892.35% for the most recent quarter, with revenue of $7.19 million.
• Borealis Foods specializes in plant-based ready-to-eat meals, including products like Chef Woo and Ramen Express, aimed at both consumer markets and humanitarian programs.

Shares of Borealis Foods Inc. (NASDAQ:BRLS - Get Free Report) shot up 4.2% during trading on Friday . The stock traded as high as $2.74 and last traded at $2.74. 1,987 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 2,806 shares. The stock had previously closed at $2.63.

Borealis Foods Stock Performance

The firm's 50 day moving average is $2.94 and its two-hundred day moving average is $4.41. The stock has a market capitalization of $56.66 million, a PE ratio of -2.91 and a beta of 0.27.

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