Bard Associates Inc. Makes New Investment in BranchOut Food Inc. $BOF

Bard Associates Inc. purchased a new position in shares of BranchOut Food Inc. (NASDAQ:BOF) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,034,600 shares of the company’s stock, valued at approximately $3,290,000. Bard Associates Inc. owned about 7.72% of BranchOut Food as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Stifel Financial Corp boosted its position in BranchOut Food by 276.6% during the 4th quarter. Stifel Financial Corp now owns 386,000 shares of the company’s stock worth $1,227,000 after acquiring an additional 283,500 shares during the last quarter. 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 last quarter. Jane Street Group LLC acquired a new position in BranchOut Food during the 4th quarter worth approximately $82,000. Renaissance Technologies LLC acquired a new position in BranchOut Food during the 4th quarter worth approximately $148,000. Finally, Nwam LLC acquired a new position in BranchOut Food during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 2.59% of the company’s stock.

Insider Activity

In other news, major shareholder Daniel Louis Kaufman sold 213,830 shares of the company’s 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 owned 1,689,676 shares in the company, valued at $5,508,343.76. This represents a 11.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 21.50% of the stock is currently owned by corporate insiders.

BranchOut Food Trading Up 2.0%

Shares of BranchOut Food stock opened at $3.59 on Friday. BranchOut Food Inc. has a 12-month low of $1.91 and a 12-month high of $4.95. The stock has a market cap of $55.00 million, a P/E ratio of -6.08 and a beta of 0.74. 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 business’s 50 day moving average is $3.68 and its 200-day moving average is $3.49.

BranchOut Food (NASDAQ:BOF) last announced its quarterly earnings data 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 company had revenue of $2.61 million for the quarter.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BranchOut Food in a research report on Friday, March 27th. Wall Street Zen cut BranchOut Food from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

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.