Borealis Foods (NASDAQ:BRLS) Shares Up 2.4% – Here’s Why

Borealis Foods Inc. (NASDAQ:BRLS)’s stock price shot up 2.4% during mid-day trading on Wednesday . The company traded as high as $1.9390 and last traded at $1.9350. 2,024 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 30,577 shares. The stock had previously closed at $1.89.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Borealis Foods in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Borealis Foods Stock Up 2.4%

The firm has a market capitalization of $41.53 million, a price-to-earnings ratio of -2.25 and a beta of 0.35. The business’s fifty day moving average is $2.97 and its 200 day moving average is $3.21.

Borealis Foods (NASDAQ:BRLS) last released its earnings results on Wednesday, November 19th. The company reported ($0.18) earnings per share (EPS) for the quarter. Borealis Foods had a negative return on equity of 892.35% and a negative net margin of 65.11%.The firm had revenue of $7.36 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.