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

Borealis Foods Inc. (NASDAQ:BRLS) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 70,296 shares, a growth of 159.4% from the December 15th total of 27,101 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 231,408 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 231,408 shares, the days-to-cover ratio is presently 0.3 days. Currently, 1.0% of the company’s stock are short sold.

Borealis Foods Trading Down 13.2%

Shares of BRLS stock opened at $1.18 on Thursday. Borealis Foods has a 12 month low of $1.09 and a 12 month high of $7.17. The stock has a market cap of $25.32 million, a P/E ratio of -1.37 and a beta of 0.34. The company has a 50 day simple moving average of $2.11 and a two-hundred day simple moving average of $2.75.

Borealis Foods (NASDAQ:BRLS) last issued its quarterly earnings data on Wednesday, November 19th. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $7.36 million for the quarter.

Wall Street Analyst Weigh In

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