BranchOut Food (NASDAQ:BOF) Releases Earnings Results

BranchOut Food (NASDAQ:BOF) issued its quarterly earnings data on Thursday. The company reported ($0.12) EPS for the quarter, FiscalAI reports. The firm had revenue of $2.61 million for the quarter. BranchOut Food had a negative net margin of 44.63% and a negative return on equity of 135.29%.

Here are the key takeaways from BranchOut Food’s conference call:

• Management said the company’s strategy is shifting toward diversifying customers and channels to fill capacity and improve factory utilization, with new opportunities in club, retail, industrial ingredients, tolling, and Europe.
• Sam’s Club is off to a strong start, with the new Crunchy Fruit Chips reportedly selling through faster than expected and running above the retailer’s threshold for a successful everyday item.
• Costco continues to provide repeat business, including a new Mango Chips rollout, continued pineapple reorders, and multiple multi-pack opportunities that could add several million dollars in sales.
• Management highlighted several additional growth drivers, including a new tolling arrangement, expected placements at Target, a new grocery broker network, and early traction in Europe and other specialty channels.
• The company said Q1 was a buildup quarter that increased inventory, while revenue is expected to be much stronger in Q2 and the full year outlook remains weighted to the second half; management also said liquidity appears sufficient through year-end unless a very large order materializes.

BranchOut Food Trading Up 20.1%

Shares of BOF traded up $0.65 during trading hours on Thursday, reaching $3.88. 278,419 shares of the company traded hands, compared to its average volume of 80,096. BranchOut Food has a 12 month low of $1.65 and a 12 month high of $4.95. The company has a quick ratio of 0.53, a current ratio of 0.91 and a debt-to-equity ratio of 0.18. The company’s fifty day moving average price is $3.77 and its two-hundred day moving average price is $3.43. The company has a market capitalization of $56.58 million, a price-to-earnings ratio of -6.69 and a beta of 0.87.

Insider Buying and Selling

In other BranchOut Food news, major shareholder Daniel Louis Kaufman sold 213,830 shares of BranchOut Food stock in a transaction that occurred 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 sale, the insider directly owned 1,689,676 shares of the company’s stock, valued at approximately $5,508,343.76. The trade was a 11.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of BranchOut Food during the fourth quarter valued at approximately $35,000. Nwam LLC bought a new position in BranchOut Food in the fourth quarter worth $39,000. Crewe Advisors LLC purchased a new position in BranchOut Food during the fourth quarter valued at $41,000. Quadrature Capital Ltd bought a new stake in shares of BranchOut Food during the 4th quarter valued at $59,000. Finally, State Street Corp grew its position in shares of BranchOut Food by 82.7% in the 4th quarter. State Street Corp now owns 24,300 shares of the company’s stock worth $77,000 after buying an additional 11,000 shares during the period. Hedge funds and other institutional investors own 2.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded BranchOut Food from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of BranchOut Food in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BranchOut Food presently has an average rating of “Sell”.

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.