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

Borealis Foods Inc. (NASDAQ:BRLS) was the recipient of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 458,168 shares, an increase of 880.8% from the January 29th total of 46,712 shares. Currently, 6.2% of the shares of the stock are sold short. Based on an average trading volume of 8,629,147 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 8,629,147 shares, the short-interest ratio is presently 0.1 days. Currently, 6.2% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Borealis Foods in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Borealis Foods currently has a consensus rating of “Sell”.

Borealis Foods Stock Down 13.4%

Shares of Borealis Foods stock opened at $1.62 on Thursday. Borealis Foods has a 12-month low of $0.60 and a 12-month high of $7.05. The firm has a market capitalization of $34.77 million, a PE ratio of -1.88 and a beta of 0.32. The stock’s fifty day moving average is $1.42 and its 200-day moving average is $2.34.

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.