The biotechnology aquaculture firm NaturalShrimp Inc (OTCMKTS:SHMP) is one of the more innovative operators in its sector and has made a name through the deployment of its Recirculating Aquaculture System in the shrimp sector.
Trading Data
On Wednesday, SHMP stock gained 8.36% to $0.3370 with 1.17 million share, compared to its average volume of 1.55 million shares. The stock has moved within a range of $0.3130 – 0.3449 after opening trade at $0.3220.
NaturalShrimp Provides Update on Live Shrimp Deliveries to Gulf Seafood
Yesterday, the stock was in considerable focus among investors after a major announcement with regards to its sales performance and the stock ended the day with gains of as much as 8%. The company announced yesterday that the sales of its live shrimps to the firm Gulf Seafood Inc has continued to grow in recent times. The sales have shown an upward curve ever since the first deliveries had been sent to the company back in November this year.
The deliveries that are being made by the company are part of the agreement that NaturalShrimp had signed with Gulf Seafood back in October this year.
As per the provisions of that particular agreement, the company was supposed to be in a trial period of three months and was supposed to supply Gulf Seafood with as much as 25000 pounds of live shrimp. The news about the ramping up of deliveries is certainly a major news and it remains to be seen if the NaturalShrimp stock can continue to be in focus.
Key Quote
“We are pleased to announce that deliveries of live shrimp have ramped up since commencing in November and are going very well,” said Gerald Easterling, CEO of NaturalShrimp.
Technical Data
SHMP stock is trading below the 50-Day and 200-Day Moving averages of $0.38 and $0.43 respectively. However, the stock is trading above the 20-Day moving average of $0.33. The stock is down 11% in the past month.
