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2024 Revenue Growth Marks (Nasdaq: BSFC) As A Potential Breakout Target (Low Float Under 3Mn Shares)
August 22nd
Greetings Readers,
The international seafood industry is going through a period of rapid change.
Striving to meet the needs of a growing population worldwide, food consumption habits are evolving.
The U.N.'s latest projections suggest that the global population could grow to around 8.5Bn in 2030, 9.7Bn in 2050 and 10.4Bn in 2100. (1)
As the population has grown, so has per capita fish consumption.
Per capita food fish consumption grew at an average annual rate of 3% from the 1960's to 2020, compared with a population growth rate of 1.6%. (2)
Rising incomes and urbanization, improvements in post-harvest practices and changes in dietary trends are projected to drive a 15% increase in aquatic food consumption, to supply on average 21.4 kg per capita in 2030. (3)
In 2020, fisheries and aquaculture production reached an all-time record of 214 million tons, worth about $424Bn.
Production of aquatic animals in 2020 was more than 60% higher than the average in the 1990s, considerably outpacing world population growth, largely due to increasing aquaculture production. (4)
Total production of aquatic animals is expected to reach 202 million tons in 2030, mainly due to sustained growth of aquaculture, projected to reach 100 million tons for the first time in 2027 and 106 million tons in 2030. (5)
One such company believes that the growth in consumption drives the increased growth of aquaculture and the need for more recirculatory aquatic systems.
And with a low float under 3Mn shares, strong revenue news throughout 2024, and a new AI + UV light technology solution enhancing operational efficiency, this under-the-radar Nasdaq profile might soon catch Wall Street's attention in a major way.
But before that happens, drop everything and pull up:
*Blue Star Foods Corp. (Nasdaq: BSFC)*
Blue Star Foods Corp. an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS) that processes, packages and sells high-value seafood products.
And based on these multiple potential catalysts, BSFC could soon come into contact with a breakout spark. Take a look:
#1. - Could This Low Float Lead To An Extremely Volatile Situation?
#2. - Revenue News Has Been Flowing In 2024 (And It's Gotta-See Stuff!)
#3. - A "Significant Milestone" Achieved Through New Supply Agreement With U.S. Military.
#4. - Blue Star Paves Way For A Fruitful Future By Securing Key License Renewal.
But more on those in a second...
Blue Star Foods to Enhance Soft Shell Crab Shedding Operations with Artificial Intelligence and UV Light Technology
Blue Star Foods Corp. is poised to revolutionize the soft-shell crab industry through its integration of Artificial Intelligence (AI) and Ultraviolet (UV) light technology, an innovative approach that has the potential to reshape the operational landscape of this niche market.
As a company already recognized for its commitment to Environmental, Social, and Governance (ESG) principles, Blue Star is taking a significant leap forward by addressing the long-standing challenges within the soft-shell crab industry, particularly around the process of identifying and harvesting molting crabs.
- The Importance of Soft-Shell Crabs
Soft-shell crabs are a high-value seafood product that commands premium prices in the market. The Atlantic blue crab, known scientifically as Callinectes sapidus, undergoes a molting process where it sheds its old shell and forms a new one.
The timing of the harvest is crucial—crabs must be harvested during a narrow window when they have just shed their shell but before the new one hardens.
This precise moment is what makes soft-shell crabs so valuable, but it also presents a significant challenge in terms of labor and accuracy in identifying the crabs at the correct stage.
- Challenges in the Industry
Traditionally, the process of identifying molting crabs, known as "busters," has relied heavily on manual inspection.
This method is not only labor-intensive but also prone to human error, leading to high mortality rates and operational inefficiencies.
Workers must visually inspect each crab to determine whether it is in the molting stage, a task that is particularly challenging during night shifts when workers are more likely to be tired or distracted.
The traditional manual method is costly, inefficient, and results in a higher-than-necessary mortality rate among the crabs, which directly impacts yield and pro-fit-ability.
- The AI and UV Light Solution
Blue Star Foods is addressing these challenges head-on by introducing a state-of-the-art system that combines AI with UV light technology to automate the molting crab identification process.
The AI system is designed to recognize specific physiological changes in the crabs as they molt, while the UV light enhances this process by highlighting these changes, making it easier for the AI to differentiate between crabs that are ready to be harvested and those that are not.
This technological innovation is expected to have a profound impact on the industry.
By automating the identification process, Blue Star can significantly reduce labor hours and costs. The AI system can operate continuously without fatigue, ensuring that molting crabs are identified promptly and accurately, regardless of the time of day.
This not only improves operational efficiency but also reduces the mortality rate among the crabs, as they can be harvested at the optimal time.
- Operational and Financial Benefits
The financial implications of this technological advancement are substantial. Currently, labor costs account for approximately 15% of Blue Star's soft-shell crab revenues.
By implementing the AI-UV system, the company anticipates a significant reduction in these costs, along with a 50% improvement in yield rates.
This could result in an estimated 12.5% increase in pro-fits, or an additional $9 per dozen of live soft-shell crabs, based on the 2024 season's average selling prices.
Moreover, the AI system's ability to consistently monitor and identify molting crabs will enhance the overall quality and market value of the soft-shell crabs, as they can be harvested at the precise moment when they are most valuable.
This not only boosts pro-fit-ability but also aligns with Blue Star's commitment to sustainability and efficiency.
- Conclusion: A Company to Watch
Blue Star Foods Corp. represents a compelling opportunity. The company's commitment to ESG principles, combined with its innovative approach to solving industry challenges, makes it a standout in the seafood market.
As the pilot study continues and the AI-UV system is refined, Blue Star is likely to see significant improvements in both operational efficiency and pro-fit-ability.
This positions the company not only as a leader in the soft-shell crab market but also as a pioneer in the broader sustainable seafood industry.
News Source. BSFC Website.
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(Nasdaq: BSFC) Potential Catalysts - Explosive Details To Make Note Of Immediately
#1. BSFC Potential Catalyst - Could This Low Float Lead To An Extremely Volatile Situation?
According to info pulled from Yahoo Finance's website, BSFC has a low float.
The website reports this profile to have roughly 2.36Mn shares in its float.
Why is that figure important? It's important on one crucial level. Volatility.
Could more positive company news in the second half of 2024 provide a near term spark?
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#2. BSFC Potential Catalyst - Revenue News Has Been Flowing In 2024 (And It's Gotta-See Stuff!)
Over the last few months, BSFC has been reeling out positive revenue news left and right.
Check this out:
8/15/24: Blue Star Foods Reports 14% Revenue Growth to $4.0Mn, Highlighted by 27% Increase in Gross Pro-fit for the First Half 2024
6/27/24: Blue Star Foods Provides 2024 Revenue Guidance of At Least 65% Growth With Anticipated Annual Run-Rate Greater Than $20Mn
5/20/24: Blue Star Foods Reports 19% Growth to $2.3Mn Revenue for First Quarter Ended March 31, 2024
Could more game-changing revenue news be right around the corner?
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#3. BSFC Potential Catalyst - A "Significant Milestone" Achieved Through New Supply Agreement With U.S. Military.
Blue Star Foods Signs Agreement with Eagle Rising to Provide High-Quality, Nutritious Meals for U.S. Military
Initial Launch Expected to Roll Out to Numerous Military Bases Over the Next Few Months
Miami, FL, April 10, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., ("Blue Star," the "Company," "we," "our" or "us") (NASDAQ: BSFC), ..., is profoundly honored to announce the successful execution of a supply agreement to provide manufacturing of Eagle Rising specified innovative food solutions for the U.S. Military under the support of our recently established Master Service Agreement (MSA). This pivotal agreement facilitates the provision of premium products distributed under the renowned Eagle Rising Brand, a Service-Disabled Veteran-Owned Small Business (SDVOSB), directly supporting the brave men and women serving in the United States military.
This strategic partnership marks a significant milestone for BlueStar Food Group as we align our mission of delivering high-quality, nutritious, and sustainably sourced meals with the expert guidance and oversight of Eagle Rising in support of our nation's defenders. The agreement encompasses the rollout of thirteen meticulously crafted meal options, each designed to meet the rigorous nutritional standards and diverse preferences of military personnel.
Key Highlights of the Agreement:
Patriotic Partnership: Our collaboration with the Eagle Rising Brand signifies a shared commitment to supporting our troops. By providing them with meals that resonate with the quality and integrity of the Eagle Rising Brand, we are together honoring their service and sacrifice.
Nutritional Excellence: BlueStar's operating company has committed to the creation of thirteen exceptional meals. These offerings are not only rich in nutrients but also cater to the culinary diversity and preferences of our troops, ensuring a balanced and satisfying dining experience.
Homegrown Quality: Every meal within this program is proudly produced in the USA, leveraging locally sourced ingredients to reinforce our dedication to quality, sustainability, and the bolstering of domestic economies.
Unwavering Commitment: BlueStar Food Group is privileged to contribute to the well-being of our nation's military forces, underlining our commitment to excellence, national duty, and innovation in food solutions.
John Keeler, CEO of BlueStar, commented, "We are honored to work with the team from Eagle Rising and admire their dedication to our nation. It is this same ethos that is engaged in the principles within BlueStar and all our operating companies. This initial launch, which will roll out to 14 military bases over the next few months, is the start of a great partnership with the Eagle Rising team."
David Longstaff, CEO of Eagle Rising, stated, "As a Service-Disabled Veteran-Owned Small Business (SDVSB), founded by a Career Military Officer/Veteran, we understand the importance of quality nutritious meals for the men and women that serve our proud nation. We have chosen to work with BlueStar to bring high-quality nutritious meals to our troops. We look forward to growing future opp's with our execution partners."
Read the full article here.
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#4. BSFC Potential Catalyst - Blue Star Paves Way For A Fruitful Future By Securing Key License Renewal.
Blue Star Foods Secures Land-Based Aquaculture License Renewal Thru 2033
Miami, FL, June 25, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., ("Blue Star," the "Company," "we," "our" or "us") (NASDAQ: BSFC), ..., is pleased to announce that it has been granted an extension renewal for the land-based aquaculture license thru 2033. All parts of this license are issued under the authority of the Fisheries Act and confer, subject to provisions of the Fisheries Act and Regulations made there under, the authority to carry out aquaculture activities including cultivation and harvest of fish.
The license renewal encompasses the Taste of BC Aquafarms located at 2948, 2930 and 2934 Jameson Road. The aquaculture license covers white sturgeon, coho salmon, chinook salmon and rainbow trout.
John Keeler, Chairman and CEO of Blue Star Foods, commented, "We are very pleased to receive this license renewal for the next 9 years, as it enables us to maintain a responsible and realistic period to continue our land-based facilities. We have the proven technology for land-based already operating the longest non-stopped steelhead salmon facility."
Read the full article here.
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(Nasdaq: BSFC) Recap - Key Catalyst Potential Surrounds This Breakout Idea
#1. - Could This Low Float Lead To An Extremely Volatile Situation?
#2. - Revenue News Has Been Flowing In 2024 (And It's Gotta-See Stuff!)
#3. - A "Significant Milestone" Achieved Through New Supply Agreement With U.S. Military.
#4. - Blue Star Paves Way For A Fruitful Future By Securing Key License Renewal.
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Coverage is officially initiated on Blue Star Foods Corp. (Nasdaq: BSFC).
I'll be in touch with updates as we move forward. Talk again soon.
Sincerely,
Kai Parker
StockWireNews
Sources: (1) United Nations – Department of Economic and Social Affairs – World Population Prospects (2022)
(2)(3)(4)(5) Food and Agriculture Organization of the United Nations "The State of the World Fisheries and Aquaculture – 2022.
(Always Remember The St-ock Prices Could Be Significantly Lower Now From The Dates I Provided.)
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