Blue Star Foods Stock Price, News & Analysis

Blue Star Foods Corp (NASDAQ: BSFC) is set to participate in two investor conferences: NobleCon on April 21 at 11:00am ET in Hollywood, FL, and the Investor Summit on May 3 at 1:15pm ET in New York City. CEO John Keeler will present and engage in 1-on-1 meetings to outline the company's strategic growth initiatives and ESG focus. Interested parties can register or request meetings via provided links or email.

Blue Star Foods Corp. (NASDAQ: BSFC) has reported its financial results for the year ended December 31, 2021. Revenue decreased by 29% to $10 million, while gross profit increased by 34% to $2 million, resulting in a gross margin of 20%. The company achieved positive EBITDA of $0.5 million from its three operating subsidiaries and reduced its net loss by 41% to $2.6 million. Looking ahead, Q1 2022 revenue is expected to exceed $5 million, reflecting over 100% growth compared to Q1 2021, suggesting a potential recovery from the previous year's challenges.

Blue Star Foods Corp. (NASDAQ:BSFC) has launched its Soft-Shell Crab Recirculatory Aquaculture Systems (RAS) division following the acquisition of Gault Seafood assets in December 2021. This innovative approach aims to harvest Atlantic Blue Crab during off-seasons, addressing a market gap where fresh products are scarce for seven months. The company plans to deliver its first off-season soft-shell crab products this August, with aspirations to scale production significantly in Beaufort, South Carolina, from a pilot facility.

Blue Star Foods Corp. (NASDAQ: BSFC), a seafood company with a focus on Environmental, Social, and Governance (ESG) factors, has announced that CEO John Keeler will present at the Aegis Virtual Conference from February 23 to February 25, 2022. The presentation is scheduled for February 23 from 1:00 p.m. to 1:30 p.m. ET. Investors can access the event by downloading the iCalendar. Blue Star is noted for its sustainable seafood products and operates North America's oldest Recirculating Aquaculture System (RAS) salmon farm.

Blue Star Foods Corp. (Nasdaq: BSFC) has entered into a securities purchase agreement with Lind Global Fund II LP to issue a convertible note worth $5,750,000, inclusive of a 15% original issue discount. This secured 24-month note has a 0% interest rate and a fixed conversion price of $5.00 per share, representing a 26% premium over the January 24 closing price of $3.97. The funds will enhance working capital, supporting increased production to meet rising demand across North America, according to CEO John Keeler.

Blue Star Foods Corp. (NASDAQ:BSFC), an integrated ESG seafood company, announced an updated research report by Diamond Equity Research. The 5-page report discusses the company’s business model, services, industry, valuation, management, and risks. CEO John Keeler emphasized the report's insights into their Crab RAS division and market opportunities. Blue Star Foods is known for processing and selling high-value seafood products and operates the oldest RAS salmon farm in North America. The report aims to enhance understanding of the company's growth strategy and financial outlook.

Taste of BC Aquafarms, a subsidiary of Blue Star Foods Corp. (NASDAQ:BSFC), released operational metrics for July to December 2021. Key highlights include an average fish harvest weight of 2.057kg, a harvest downgrade percentage of 1.5%, and a feed conversion ratio of 1.12 KG Feed/Kg, surpassing the industry standard. The company aims to maintain production levels while expanding to a larger facility with a target of 21,000 metric tons by 2028. CEO John Keeler emphasized the consistency in production and quality, urging investors to assess their performance against other RAS farms.

Blue Star Foods Corp. (NASDAQ:BSFC) announced the signing of a term sheet to acquire certain assets of Gault Seafood, LLC, a company specializing in Recirculatory Aquaculture Systems (RAS). This acquisition aims to leverage Gault's unique technology for harvesting Atlantic Blue Crab during its off-season, potentially creating a year-round market for this product. The deal, expected to close in Q1-2022, aligns with Blue Star's strategic M&A approach of integrating innovative technologies into its operations, enhancing its marine protein offering.

Blue Star Foods Corp. (NASDAQ:BSFC) announced a two-year agreement with Taste of BC Aquafarms to supply Steelhead Salmon fingerlings worth approximately $1M. This agreement is a part of BSFC's strategy to enhance margins and reduce production risk, as fingerlings reach market size in four months compared to a year for full-sized fish. Taste of BC has established itself as a leader in the Recirculating Aquaculture Systems industry, offering sustainable seafood solutions. The partnership reflects confidence in TBC's superior rearing capabilities, critical for the growth performance of steelhead salmon.