Boulder Brands Could be Manipulating Revenue Recognition: Analysts

Prescience Point has just issued a 40 page initiation report on Boulder Brands Inc (NASDAQ:BDBD); the firm rates the stock a strong sell. Prescience Point is a value oriented short biased research firm. Prescience Point believes the company could be manipulating its accounting with revenue recognition. The firm explains below why it is bearish on Boulder Brands Inc (NASDAQ:BDBD) and why the firm believes that the stock is worth 70% less than the current share price. The target price is $4.00 or 70% lower than the current share price of $11.45.

We believe shares of Boulder Brands (Nasdaq: BDBD or “Boulder”) are grossly overvalued, perilously levered and poised to...