BranchOut Food (NASDAQ:BOF) Stock Price Down 1.1% - What's Next?

Key Points

• BranchOut Food shares fell 1.1% to $3.68, with trading volume down 64% from the average. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: Lake Street Capital initiated coverage with a Buy rating and a $6.00 target, while Wall Street Zen and Weiss Ratings maintain Sell ratings. The consensus rating is Hold with a $6.00 target price.
• The company beat quarterly expectations, reporting a loss of $0.18 per share versus the $0.20 estimate and revenue of $4.46 million versus $4.00 million expected. However, it continues to post substantial losses, including a negative net margin of 56.77%.

BranchOut Food Inc. (NASDAQ:BOF - Get Free Report)'s stock price traded down 1.1% on Tuesday . The stock traded as low as $3.66 and last traded at $3.68. 8,575 shares were traded during trading, a decline of 64% from the average daily volume of 23,794 shares. The stock had previously closed at $3.72.

Analyst Upgrades and Downgrades

BOF has been the topic of a number of research reports. Wall Street Zen raised shares of BranchOut Food from a "strong sell" rating to a "sell" rating in a report on Tuesday, July 21st. Lake Street Capital initiated coverage on shares of BranchOut Food in a research note on Monday, August 3rd. They set a "buy" rating and a $6.00 price target for the company. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of BranchOut Food in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $6.00.

BranchOut Food Stock Down 1.1%

The stock has a market cap of $59.84 million, a price-to-earnings ratio of -6.13 and a beta of 0.64. The stock has a 50 day simple moving average of $3.98 and a 200 day simple moving average of $3.88. The company has a quick ratio of 0.60, a current ratio of 1.03 and a debt-to-equity ratio of 0.34.

BranchOut Food (NASDAQ:BOF - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.02. The firm had revenue of $4.46 million during the quarter, compared to analysts' expectations of $4.00 million. BranchOut Food had a negative net margin of 56.77% and a negative return on equity of 153.95%.

Institutional Investors Weigh In On BranchOut Food

A number of institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in shares of BranchOut Food by 73.0% during the 1st quarter. Renaissance Technologies LLC now owns 80,427 shares of the company's stock worth $265,000 after purchasing an additional 33,927 shares during the period. BlackRock Inc. purchased a new stake in BranchOut Food during the second quarter worth about $185,000. Corsair Capital Management L.P. purchased a new stake in BranchOut Food during the first quarter worth about $330,000. Sei Investments Co. bought a new stake in BranchOut Food in the first quarter worth about $569,000. Finally, Bard Associates Inc. purchased a new position in BranchOut Food in the second quarter valued at about $4,740,000. 2.59% of the stock is owned by institutional investors.

About BranchOut Food

BranchOut Food Inc is a food technology company focused on producing shelf-stable, plant-based snacks and ingredients from fruits and vegetables. The company uses proprietary dehydration technology designed to preserve the color, flavor, texture and nutritional characteristics of fresh produce while extending shelf life.

Its product offerings include dehydrated fruit and vegetable snacks, such as avocado, banana, pineapple, mango and other produce-based items, as well as ingredient products intended for use by food manufacturers.

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