Short Interest in Borealis Foods Inc. (NASDAQ:BRLS) Decreases By 54.2%

Borealis Foods Inc. (NASDAQ:BRLS) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totaling 230,400 shares, a decrease of 54.2% from the April 30th total of 502,902 shares. Based on an average daily trading volume, of 50,973 shares, the days-to-cover ratio is presently 4.5 days. Approximately 1.3% of the company’s shares are short sold.

Borealis Foods Stock Up 2.1%

BRLS stock opened at $1.48 on Friday. The business’s fifty day moving average is $1.35 and its 200-day moving average is $1.59. The company has a market cap of $31.77 million, a P/E ratio of -1.72 and a beta of 0.38. Borealis Foods has a twelve month low of $0.60 and a twelve month high of $7.05.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Borealis Foods in a report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

About Borealis Foods

Borealis Foods Inc operates as a food technology company that develops plant-based ready-to-eat meals. The company also developed ambient ready-to-eat high-protein meals for U.S. and global humanitarian food programs. Its products include Chef Woo, a plant based instant ramen meals that provides with 20 grams of plant-based complete protein; and Ramen Express, a vegetarian ramen noodles. The company distributes its products via retail partners across the U.S., Canada, Mexico and Europe and also sells its products online.