Borealis Foods Inc. (NASDAQ:BRLS) Sees Large Decline in Short Interest

Borealis Foods Inc. (NASDAQ:BRLS) saw a significant decline in short interest in August. As of August 31st, there was short interest totaling 59,971 shares, a decline of 62.0% from the August 15th total of 157,953 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 4,589,362 shares, the short-interest ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Borealis Foods in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Borealis Foods Stock Down 2.1%

Shares of Borealis Foods stock traded down $0.03 on Friday, reaching $1.40. The stock had a trading volume of 3,630 shares, compared to its average volume of 2,549,756. The company has a 50 day moving average price of $1.05 and a 200 day moving average price of $1.30. Borealis Foods has a 1 year low of $0.60 and a 1 year high of $5.02. The stock has a market capitalization of $30.04 million, a P/E ratio of -1.65 and a beta of 0.45.

Borealis Foods (NASDAQ:BRLS) last posted its earnings results on Tuesday, June 30th. The company reported ($0.16) EPS for the quarter. The company had revenue of $7.37 million for the quarter.

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.