Short Interest in Borealis Foods Inc. (NASDAQ:BRLS) Decreases By 54.2%

Borealis Foods Inc. (NASDAQ:BRLS) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 230,400 shares, a decline of 54.2% from the April 30th total of 502,902 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 50,973 shares, the days-to-cover ratio is presently 4.5 days.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Borealis Foods in a report on Monday, April 20th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Borealis Foods Trading Up 3.4%

Shares of BRLS stock traded up $0.05 during trading hours on Monday, reaching $1.53. 9,605 shares of the company’s stock were exchanged, compared to its average volume of 1,044,243. The stock’s fifty day moving average price is $1.35 and its two-hundred day moving average price is $1.58. The stock has a market cap of $32.86 million, a PE ratio of -1.78 and a beta of 0.34. Borealis Foods has a 1 year low of $0.60 and a 1 year high of $7.05.

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.