Zacks Investment Research Downgrades Blue Star Foods (OTCMKTS:BSFC) to Sell

Blue Star Foods (OTCMKTS:BSFCGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Blue Star Foods Corp. is an integrated ESG seafood company which processes, packages and sells seafood products. Blue Star Foods Corp. is based in Miami, Florida. “

BSFC traded down $0.06 during trading on Tuesday, hitting $1.39. 7,249 shares of the company’s stock were exchanged, compared to its average volume of 1,057,310. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 1.70. The business’s 50 day moving average is $1.66 and its two-hundred day moving average is $2.12. Blue Star Foods has a fifty-two week low of $1.06 and a fifty-two week high of $8.00.

Blue Star Foods (OTCMKTS:BSFCGet Rating) last announced its earnings results on Monday, May 16th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Blue Star Foods had a negative net margin of 24.83% and a negative return on equity of 43.03%. On average, analysts expect that Blue Star Foods will post -0.07 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in BSFC. Scotia Capital Inc. purchased a new stake in shares of Blue Star Foods in the first quarter valued at about $1,926,000. Sequoia Financial Advisors LLC purchased a new stake in Blue Star Foods during the first quarter worth about $39,000. Vanguard Group Inc. purchased a new stake in Blue Star Foods during the first quarter worth about $118,000. State Street Corp purchased a new stake in Blue Star Foods during the first quarter worth about $45,000. Finally, Virtu Financial LLC purchased a new stake in Blue Star Foods during the first quarter worth about $38,000. Institutional investors own 0.16% of the company’s stock.

About Blue Star Foods (Get Rating)

Blue Star Foods Corp., through its subsidiaries, operates as a marine protein company in the United States and Canada. The company imports, packages, and sells refrigerated pasteurized various crab meats sourced primarily from Southeast Asia; and other premium seafood products. It sells its products primarily to food service distributors, as well as wholesalers, retail establishments, and seafood distributors under the Blue Star, Pacifika, Oceanica, Crab & Go Premium Seafood, Lubkin, First Choice, Good Stuff, Coastal Pride Fresh, and Little Cedar Falls brands.

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