BranchOut Food (NASDAQ:BOF) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded BranchOut Food from “strong sell” to “sell”, while Weiss Ratings also reiterated a sell rating, leaving the stock with a consensus Sell view.
• The stock was down 2.4% and opened at $4.03; BranchOut Food has a $61.74 million market cap, a negative earnings profile, and recently reported -$0.12 EPS on $2.61 million in revenue.
• Insider and institutional activity remains mixed: major shareholder Daniel Louis Kaufman sold 255,951 shares, while several hedge funds took new positions and State Street increased its stake.

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

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of BranchOut Food in a report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of "Sell".

BranchOut Food Trading Down 2.4%

BOF stock opened at $4.03 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.27. The company has a market cap of $61.74 million, a price-to-earnings ratio of -6.83 and a beta of 0.58. The business has a fifty day simple moving average of $3.90 and a 200-day simple moving average of $3.69. 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 issued its earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter. BranchOut Food had a negative return on equity of 138.86% and a negative net margin of 53.27%.The firm had revenue of $2.61 million for the quarter.

Insider Activity

In other news, major shareholder Daniel Louis Kaufman sold 255,951 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $3.29, for a total transaction of $842,078.79. Following the completion of the transaction, the insider owned 1,403,506 shares in the company, valued at approximately $4,617,534.74. This represents a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.50% of the company's stock.

Institutional Investors Weigh In On BranchOut Food

A number of hedge funds have recently made changes to their positions in BOF. Crewe Advisors LLC acquired a new position in shares of BranchOut Food during the fourth quarter worth approximately $41,000. Nwam LLC bought a new stake in BranchOut Food during the 4th quarter valued at $39,000. Renaissance Technologies LLC bought a new stake in BranchOut Food during the 4th quarter valued at $148,000. Jane Street Group LLC acquired a new position in BranchOut Food during the 4th quarter worth $82,000. Finally, State Street Corp boosted its position in BranchOut Food by 82.7% during the 4th quarter. State Street Corp now owns 24,300 shares of the company's stock worth $77,000 after acquiring an additional 11,000 shares during the period. 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.

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