BranchOut Food (NASDAQ:BOF) Downgraded to "Strong Sell" Rating by Wall Street Zen

Key Points

• BranchOut Food (NASDAQ:BOF) was downgraded by Wall Street Zen from “sell” to “strong sell”, while Weiss Ratings also reaffirmed a sell rating on the stock.
• The company’s shares opened at $4.30, giving it a market cap of about $65.9 million; the stock has traded between $1.93 and $5.25 over the past 52 weeks.
• BranchOut Food reported a Q1 loss of $0.12 per share on $2.61 million in revenue, with continued weak profitability metrics including a negative net margin and return on equity.

BranchOut Food (NASDAQ:BOF - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a note issued to investors on Monday.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of BranchOut Food in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, BranchOut Food has an average rating of "Sell".

BranchOut Food Price Performance

Shares of BOF stock opened at $4.30 on Monday. The firm's 50 day moving average price is $3.83 and its two-hundred day moving average price is $3.66. The stock has a market cap of $65.86 million, a PE ratio of -7.29 and a beta of 0.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.42 and a current ratio of 0.87. BranchOut Food has a 52-week low of $1.93 and a 52-week high of $5.25.

BranchOut Food (NASDAQ:BOF - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share for the quarter. The company had revenue of $2.61 million during the quarter. BranchOut Food had a negative net margin of 53.27% and a negative return on equity of 138.86%.

Insider Buying and Selling at BranchOut Food

In other news, major shareholder Daniel Louis Kaufman sold 213,830 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $3.26, for a total transaction of $697,085.80. Following the completion of the sale, the insider directly owned 1,689,676 shares in the company, valued at approximately $5,508,343.76. This represents a 11.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 21.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Bard Associates Inc. acquired a new position in shares of BranchOut Food during the 4th quarter worth $3,290,000. Stifel Financial Corp increased its position in BranchOut Food by 276.6% during the 4th quarter. Stifel Financial Corp now owns 386,000 shares of the company's stock valued at $1,227,000 after purchasing an additional 283,500 shares during the period. Sei Investments Co. bought a new position in BranchOut Food during the first quarter worth $569,000. Corsair Capital Management L.P. bought a new position in shares of BranchOut Food in the 1st quarter worth about $330,000. Finally, Renaissance Technologies LLC lifted its stake in BranchOut Food by 73.0% in the first quarter. Renaissance Technologies LLC now owns 80,427 shares of the company's stock valued at $265,000 after buying an additional 33,927 shares during the period. 2.59% of the stock is owned by institutional investors.

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. It also provides chocolate covered fruit items and private label products for retailers.

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