Blue Star Foods Corp. (BSFC) is specialized in seafood and is engaged in the processing, packaging, and selling best quality seafood products. The company utilizes resource sustainability management, traceability, and ecological packaging for its products. The company also operates a salmon farm called Recirculating Aquaculture System which is one of the oldest operating systems.
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The price of BSFC stock during the regular trading on January 21, 2022, was $3.8 with a phenomenal 100% gain. At last check in the aftermarket, the stock was down significantly by 15.79%.
BSFC: Events and Happenings
On January 13, 2022, BSFC reported about the issuance of an updated research report on the company’s operations by Diamond Equity Research.
BSFC: CEO Comments
Speaking at the occasion, BSFC CEO John Keeler said that the research statement portrayed the company’s intentions about building its Crab RAS division. He further added that the statement also drives the market prospect and what the potential business economics could look like for the company.
On January 05, 2022, BSFC reported about the release of its leading operating performance metrics for 2021 that helped stockholders recognize RAS business clearly. On December 14, 2021, BSFC reported about its entry into a term sheet for the acquisition of assets of Gault Seafood. Sault Seafood is focused on harvesting off-season Atlantic Blue Crab.
On December 06, 2021, BSFC reported that its subsidiary had entered into Steelhead Salmon fingerlings supply contract for 2-years with a leading company in the market. On December 01, 2021, BSFC reported that the company’s Executives presented at the investor conferences namely Sidoti December 2021 Micro Cap Conference held virtually on December 8-9 and The Benzinga Global Small-Cap Conference also held on December 8-9, 2021.
On November 29, 2021, BSFC reported that the company’s Executives presented as panelists at the Virtual FAO GLOBEFISH webinar regarding sustainability in Fisheries and Aquaculture held on December 10, 2021.
BSFC: Key Financials
On November 22, 2021, BSFC reported its financial results for the third fiscal quarter ended September 30, 2021. Some of the key updates are as follows.
Revenue and Assets
Revenue in the third quarter of 2021 was $3.7 million as compared to the same period in 2020 when it was recorded to be $3.9 million. Total current assets in Q3.9 million. Total current assets in Q3 2021 were reported to be $5 million.
Net Income/Loss per Share
Basic and diluted net loss in Q3 2021 was $0.16 million or $0.01 per share compared with net income of $538 or $0 per share in the same period of 2020.
Conclusion
BSFC stock is 36% down compared to the past half-yearly period. The company gained momentum in the regular trading but lost this momentum afterward, due to the uncertain market factors. The financial experts are hoping that the company has the potential and solid strategies to attract the potential investment and raise its stock value.
