Short Interest in Borealis Foods Inc. (NASDAQ:BRLS) Drops By 14.6%

Borealis Foods Inc. (NASDAQ:BRLS) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 7,000 shares, a decline of 14.6% from the August 31st total of 8,200 shares. Based on an average daily volume of 3,800 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.1% of the shares of the company are short sold.

Borealis Foods Price Performance

NASDAQ:BRLS remained flat at $5.72 during trading hours on Friday. The company’s stock had a trading volume of 36 shares, compared to its average volume of 8,210. The company has a quick ratio of 0.26, a current ratio of 0.53 and a debt-to-equity ratio of 2.37. Borealis Foods has a 12 month low of $3.71 and a 12 month high of $12.50. The business’s 50-day moving average price is $7.43 and its 200-day moving average price is $6.93.

Borealis Foods (NASDAQ:BRLS) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.29) earnings per share (EPS) for the quarter. The business had revenue of $5.33 million during the quarter.

Borealis Foods Company Profile

Borealis Foods Inc engages in the distribution of plant-based protein food products. Its products include Chef Woo, a high-protein instant ramen with 20 grams of plant-based complete protein; and Ramen Express, a vegetarian ramen noodles. The company is based in Oakville, Canada.