BranchOut Food (NASDAQ:BOF) Earns Buy Rating from Analysts at Lake Street Capital

Key Points

• Lake Street Capital initiated coverage of BranchOut Food with a Buy rating and a $6.00 price target, implying approximately 53.45% upside from the stock’s $3.91 price.
• Analyst sentiment remains mixed: one analyst rates the stock Buy and another Sell, resulting in a consensus Hold rating with a $6.00 target price.
• BranchOut Food reported a quarterly loss of $0.12 per share on $2.61 million in revenue, alongside a negative net margin of 53.27%; a major shareholder also sold 255,951 shares.

Lake Street Capital initiated coverage on shares of BranchOut Food (NASDAQ:BOF - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage set a "buy" rating and a $6.00 price target on the stock. Lake Street Capital's target price indicates a potential upside of 53.45% from the stock's current price.

A number of other analysts have also recently commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of BranchOut Food in a research report on Wednesday, June 24th. Wall Street Zen raised shares of BranchOut Food from a "strong sell" rating to a "sell" rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, BranchOut Food presently has a consensus rating of "Hold" and a consensus target price of $6.00.

BranchOut Food Price Performance

BOF opened at $3.91 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 0.27. BranchOut Food has a 1-year low of $1.93 and a 1-year high of $5.25. The company has a market capitalization of $59.89 million, a PE ratio of -6.63 and a beta of 0.58. The firm's 50 day simple moving average is $4.02 and its two-hundred day simple moving average is $3.74.

BranchOut Food (NASDAQ:BOF - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter. The business had revenue of $2.61 million for 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

In other BranchOut Food news, major shareholder Daniel Louis Kaufman sold 255,951 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $3.29, for a total transaction of $842,078.79. Following the sale, the insider directly owned 1,403,506 shares of the company's stock, valued at $4,617,534.74. The trade was a 15.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 21.50% of the company's stock.

Hedge Funds Weigh In On BranchOut Food

Several large investors have recently modified their holdings of BOF. Bard Associates Inc. purchased a new stake in BranchOut Food during the 4th quarter valued at $3,290,000. Stifel Financial Corp boosted its stake in BranchOut Food by 276.6% during the fourth quarter. Stifel Financial Corp now owns 386,000 shares of the company's stock worth $1,227,000 after buying an additional 283,500 shares during the period. Sei Investments Co. bought a new position in BranchOut Food during the first quarter valued at $569,000. Corsair Capital Management L.P. bought a new position in BranchOut Food during the first quarter valued at $330,000. Finally, Renaissance Technologies LLC increased its position in BranchOut Food by 73.0% during the first quarter. Renaissance Technologies LLC now owns 80,427 shares of the company's stock valued at $265,000 after acquiring an additional 33,927 shares during the last quarter. 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. It also provides chocolate covered fruit items and private label products for retailers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.