Short Interest in Borealis Foods Inc. (NASDAQ:BRLS) Grows By 701.5%

Borealis Foods Inc. (NASDAQ:BRLS) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 502,902 shares, a growth of 701.5% from the April 15th total of 62,746 shares. Currently, 6.8% of the shares of the stock are short sold. Based on an average daily volume of 1,389,907 shares, the days-to-cover ratio is currently 0.4 days.

Borealis Foods Stock Performance

NASDAQ:BRLS traded up $0.03 during trading hours on Wednesday, reaching $1.33. The stock had a trading volume of 24,773 shares, compared to its average volume of 796,260. Borealis Foods has a 52 week low of $0.60 and a 52 week high of $7.05. The company has a 50 day moving average price of $1.40 and a two-hundred day moving average price of $1.76. The stock has a market capitalization of $28.54 million, a PE ratio of -1.55 and a beta of 0.38.

Analysts Set New Price Targets

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

Borealis Foods Company Profile

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.