BranchOut Food (NASDAQ:BOF) Research Coverage Started at Lake Street Capital

Lake Street Capital initiated coverage on shares of BranchOut Food (NASDAQ:BOF) in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $6.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of BranchOut Food in a report on Wednesday, June 24th. Wall Street Zen raised BranchOut Food from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, BranchOut Food currently has a consensus rating of “Hold” and a consensus price target of $6.00.

BranchOut Food Price Performance

Shares of NASDAQ:BOF opened at $4.19 on Monday. 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 stock has a market cap of $64.19 million, a PE ratio of -7.10 and a beta of 0.65. The company’s fifty day moving average is $4.07 and its 200 day moving average is $3.76. BranchOut Food has a 52 week low of $1.93 and a 52 week high of $5.25.

BranchOut Food (NASDAQ:BOF) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter. BranchOut Food had a negative net margin of 53.27% and a negative return on equity of 138.86%. The business had revenue of $2.61 million for the quarter.

Insider Transactions at BranchOut Food

In other BranchOut Food news, major shareholder Daniel Louis Kaufman sold 213,830 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $3.26, for a total value of $697,085.80. Following the transaction, the insider owned 1,689,676 shares in the company, valued at approximately $5,508,343.76. The trade was a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.50% of the stock is currently owned by company insiders.

Institutional Trading of BranchOut Food

A number of institutional investors have recently modified their holdings of BOF. Virtu Financial LLC bought a new stake in shares of BranchOut Food in the fourth quarter worth about $35,000. Nwam LLC bought a new position in BranchOut Food during the 4th quarter valued at approximately $39,000. Quadrature Capital Ltd purchased a new stake in BranchOut Food in the 4th quarter worth approximately $59,000. State Street Corp lifted its holdings in 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. Finally, Jane Street Group LLC bought a new stake in shares of BranchOut Food in the 4th quarter worth approximately $82,000. 2.59% of the stock is currently owned by hedge funds and other institutional investors.

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.