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Monday, January 17, 2022

How NaturalShrimp Inc (OTCMKTS:SHMP) Could Pull Off Its Next Trick

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Shares of NaturalShrimp Inc (OTCMKTS:SHMP) have been diving in recent action as more supply hits the tape, overwhelming demand. Monday’s move represented a sharp drop under the 50-day simple moving average. The $0.20 level is now the key to the action on a technical basis. The bull case for this chart is built of a quick inflection from here that re-establishes a band of support above this area. To make matters more interesting, the company just announced that Gerald Easterling, the company’s president, will be attending the Seafood Expo North America Conference in Boston, Massachusetts starting on Monday of this week.

Bill Williams, NaturalShrimp’s CEO, commented: “We are looking to build on the momentum developed at Aquaculture 2019 in New Orleans. We have had a number of inquiries about our system since the Aquaculture conference. We are always looking for opportunities to discuss our patented process to industry professionals and suppliers.”

NaturalShrimp Inc (OTCMKTS:SHMP) bills itself as a global shrimp farming company that is developing a technology to produce fresh, gourmet-grade shrimp reliably and economically in an indoor, re-circulating, saltwater facility.

Its eco-friendly, bio-secure design does not rely on ocean water, but rather recreates the natural ocean environment allowing for high-density production which can be replicated anywhere in the world.

The company was founded in 2001 and is based in Dallas, Texas.

NaturalShrimp Inc (OTCMKTS:SHMP) had no reported sales in its last quarterly financial data. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($24K against $5.9M, respectively).

According to the release, “NaturalShrimp, Inc. (OTCQB: SHMP) is a publicly traded agro-technology company headquartered in Dallas, Texas with production facilities located near San Antonio in LaCoste, Texas. The Company has developed the first commercially viable system for growing shrimp indoors using patented technology that produce fresh, never-frozen, naturally grown shrimp without the use of antibiotics or toxic chemicals. NaturalShrimp systems are self-contained, saltwater production facilities that can be located anywhere in the world to produce gourmet-grade Pacific White Shrimp.”

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We started off by noting that SHMP recently hit the wires with the announcement that Gerald Easterling, the Company’s president, will be attending the Seafood Expo North America Conference in Boston, Massachusetts starting on Monday of this week.

The stock has suffered a bit of late, with shares of SHMP taking a hit in recent action, down about -25% over the past week. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -51%.

Moreover, the stock has seen interest climb, with an increase in recent trading volume of 56% above the average volume levels in play in this stock over the longer term.

Gerald Easterling, President, added: “The amount of information that we were able to glean from the New Orleans conference was truly remarkable. I really believe that the deployment of our systems throughout North America and elsewhere will be a total collaboration between ourselves, suppliers, and customers.”

Earning a current market cap value of $62.56M, SHMP has virtually no cash on the books, which compares with about $5.9M in total current liabilities. The company is pre-revenue at this point. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $SHMP stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $SHMP, either long or short, and we have not been compensated for this article.

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