Biotech agriculture company NaturalShrimp Inc (OTCMKTS:SHMP) has had a tough time in the markets over the course of the past month and during the period, the stock has declined by as much as 16%.
Trading Data
On Tuesday, SHMP stock gained 1.16% at $0.39 with more than 1.32 million shares, compared to its average volume of 1.62 million shares. The stock has moved within a range of $0.3800 – 0.4098 after opening trade at $0.40.
NaturalShrimp and Gulf Seafood Achieve Key Milestone with First Commercial Deliveries of Live Shrimp
The company is best known for having developed the first commercial shrimp related Recirculating Aquaculture System. At this point, it is time for investors to figure out if the recent decline in the NaturalShrimp stock in fact be an opportunity. As it happens, the company was in the news on Tuesday after it announced that it had managed to hit a major milestone.
NaturalShrimp announced that the milestone consisted of the first commercial delivery of live shrimp to its client Gulf Seafood Inc. The deliver was made as per the purchase agreement that had been signed with the clients for a three month trial.
The company is slated to deliver as much as 25000 pound of live shrimp to the client and Gulf Seafood is going to distribute and market the shrimps. It goes without saying that it was a significant development for NaturalShrimp, however, it did not lead to any optimism among investors. It remains to be seen if the stock can eventually bounce back any time soon.
Technical Data
SHMP stock is trading below the 20-Day and 50-Day Moving averages of $0.41 and $0.41 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.47. The stock is down 10% in the past month.
