Welcome to our dedicated page for Blue Star Foods news (Ticker: BSFC), a resource for investors and traders seeking the latest updates and insights on Blue Star Foods stock.
Blue Star Foods Corp. (NASDAQ: BSFC) is a global leader in the seafood processing and import industry, headquartered in Miami. The company specializes in the import, packaging, and sale of refrigerated pasteurized crab meat and other premium seafood products. Blue Star Foods derives its revenue from importing blue and red swimming crab meat from Indonesia, Philippines, and China, distributing it across the United States and Canada under an array of premium brand names such as Blue Star, Oceanica, Pacifika, Crab & Go, First Choice, Good Stuff, Coastal Pride Fresh, and Little Cedar Falls for steelhead salmon and rainbow trout fingerlings.
Blue Star Foods is renowned for its innovative packaging solutions, which have significantly reduced the use of recycled materials and minimized its carbon footprint, keeping millions of pounds of packaging waste out of the environment. The company has been a frontrunner in ensuring verifiable traceability and sustainability in the global seafood market. Upcoming technological advancements are set to further enhance their resource management practices, benefiting both end users and consumers.
With a major focus on the blue swimming crab species, Blue Star Foods has optimized its supply chain efficiencies, and these advancements are seamlessly extending to other species and categories. The company continues to lead by example in sustainability, ensuring that every step in its supply chain adheres to the highest standards.
Recent achievements include the development and launch of new applications aimed at improving resource management and product traceability. Blue Star Foods’ commitment to sustainability and innovation positions it as a key player in the international seafood market.
- Headquarters: Miami, USA
- Products: Refrigerated pasteurized crab meat, premium seafood
- Brands: Blue Star, Oceanica, Pacifika, Crab & Go, First Choice, Good Stuff, Coastal Pride Fresh, Little Cedar Falls
- Key Markets: United States, Canada
- Recent Innovations: Advanced packaging solutions, resource management tech
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.
Blue Star Foods Corp. (Nasdaq: BSFC), an integrated ESG seafood company, announced CEO John Keeler's participation in two investor conferences on December 8-9, 2021. He will present at the Sidoti December 2021 Virtual Micro Cap Conference on December 8 at 11:30 a.m. ET, and at The Benzinga Global Small Cap Conference on the same day at 4:20 p.m. ET. Blue Star focuses on sustainable seafood practices and operates the oldest full grow-out salmon farm in North America.
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