Nocera (NCRA)
Market Price (8/24/2026): $1.86 | Market Cap: $2.9 MilSector: Consumer Staples | Industry: Packaged Foods & Meats
Nocera (NCRA)
Market Price (8/24/2026): $1.86Market Cap: $2.9 MilSector: Consumer StaplesIndustry: Packaged Foods & Meats
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -160% Megatrend and thematic driversMegatrends include Water Infrastructure, and Automation & Robotics. Themes include Water Treatment & Delivery, Wastewater Management, Show more. | Weak multi-year price returns2Y Excs Rtn is -132%, 3Y Excs Rtn is -170% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -3.7 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -54% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -23%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -18%, Rev Chg QQuarterly Revenue Change % is -46% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -49%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -49% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -169% High stock price volatilityVol 12M is 173% Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 23% Key risksNCRA key risks include [1] potential delisting from Nasdaq for non-compliance with filing rules, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -160% |
| Megatrend and thematic driversMegatrends include Water Infrastructure, and Automation & Robotics. Themes include Water Treatment & Delivery, Wastewater Management, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -132%, 3Y Excs Rtn is -170% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -3.7 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -54% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -23%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -18%, Rev Chg QQuarterly Revenue Change % is -46% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -49%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -49% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -169% |
| High stock price volatilityVol 12M is 173% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 23% |
| Key risksNCRA key risks include [1] potential delisting from Nasdaq for non-compliance with filing rules, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Nocera (NCRA) stock has lost about 70% since 4/30/2026 because of the following key factors:
1. Deteriorating Financial Performance in Fiscal Q1 and Q2 2026.
Nocera experienced a significant decline in financial performance during the first two fiscal quarters of 2026. For fiscal Q1 2026 (ended March 31, 2026), the company reported a sharp reduction in net sales to $2.28 million, down from $4.53 million in the prior year. The net loss widened considerably to $1.27 million, compared to a net loss of $0.26 million in fiscal Q1 2025. This negative trend continued into fiscal Q2 2026 (ended June 30, 2026), with sales falling to $2.14 million from $3.97 million a year earlier, and net loss expanding to $1.54 million from $0.316 million. For the first six months of fiscal 2026, net sales were nearly halved, dropping to $4.42 million from $8.51 million, while the net loss significantly increased to $2.82 million from $0.56 million in the previous year.
2. Nasdaq Listing Compliance Issues and Reverse Stock Split.
Nocera faced significant regulatory hurdles, including non-compliance with Nasdaq's listing requirements, which led to a reverse stock split. On April 17, 2026, the company received a notification from Nasdaq regarding its failure to meet the minimum stockholders' equity requirement of $2.5 million. To address the minimum bid price requirement, which saw its stock close around $0.066 by July 2, 2026, Nocera implemented a 1-for-30 reverse stock split, effective July 6, 2026. This action was met with a negative market reaction, as the stock price declined by more than 33% following the reverse split announcement. While Nocera later regained compliance for both the bid price and stockholders' equity requirements by August 10, 2026, the period of uncertainty and the drastic measure of a reverse split likely contributed to the stock's decline.
Show more
Nocera (NCRA) stock has lost about 70% since 4/30/2026 because of the following key factors:
1. Deteriorating Financial Performance in Fiscal Q1 and Q2 2026.
Nocera experienced a significant decline in financial performance during the first two fiscal quarters of 2026. For fiscal Q1 2026 (ended March 31, 2026), the company reported a sharp reduction in net sales to $2.28 million, down from $4.53 million in the prior year. The net loss widened considerably to $1.27 million, compared to a net loss of $0.26 million in fiscal Q1 2025. This negative trend continued into fiscal Q2 2026 (ended June 30, 2026), with sales falling to $2.14 million from $3.97 million a year earlier, and net loss expanding to $1.54 million from $0.316 million. For the first six months of fiscal 2026, net sales were nearly halved, dropping to $4.42 million from $8.51 million, while the net loss significantly increased to $2.82 million from $0.56 million in the previous year.
2. Nasdaq Listing Compliance Issues and Reverse Stock Split.
Nocera faced significant regulatory hurdles, including non-compliance with Nasdaq's listing requirements, which led to a reverse stock split. On April 17, 2026, the company received a notification from Nasdaq regarding its failure to meet the minimum stockholders' equity requirement of $2.5 million. To address the minimum bid price requirement, which saw its stock close around $0.066 by July 2, 2026, Nocera implemented a 1-for-30 reverse stock split, effective July 6, 2026. This action was met with a negative market reaction, as the stock price declined by more than 33% following the reverse split announcement. While Nocera later regained compliance for both the bid price and stockholders' equity requirements by August 10, 2026, the period of uncertainty and the drastic measure of a reverse split likely contributed to the stock's decline.
3. Persistent "Going Concern" Doubts and Weakened Balance Sheet.
The company's financial instability was highlighted by management repeatedly expressing "substantial doubt" about its ability to continue as a going concern in its fiscal Q1 2026 and fiscal Q2 2026 reports. The balance sheet reflected this weakness, with stockholders' equity showing a deficit of $1.43 million in fiscal Q1 2026. Additionally, the company's cash and cash equivalents significantly decreased, falling from $7.95 million at the end of the previous fiscal year to $5.37 million in fiscal Q1 2026, and further to $4.79 million by the end of fiscal Q2 2026.
4. Losses from Bitcoin Treasury Strategy.
Nocera's decision to invest in Bitcoin as a corporate treasury asset introduced significant volatility and losses. In January 2026, the company invested $2.0 million in Bitcoin. By the end of fiscal Q1 2026 (March 31, 2026), this investment resulted in an unrealized loss of $394,587. The losses deepened by the end of fiscal Q2 2026 (June 30, 2026), with the fair value of the Bitcoin holdings declining to $1.38 million and leading to $622,426 in recognized unrealized losses on digital assets.
5. Requirement for Financial Statement Restatement.
On August 17, 2026, Nocera announced that its previously issued financial statements for 2024 and 2025 could no longer be relied upon due to identified errors. This required a restatement, which included a $1,351,703 reduction in goodwill and an increase in accumulated losses. This revelation of accounting inaccuracies and the need for restatement likely eroded investor confidence in the company's financial reporting and overall transparency.
Show less
Stock Movement Drivers
Fundamental Drivers
The -70.2% change in NCRA stock from 4/30/2026 to 8/23/2026 was primarily driven by a -69.3% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302026 | 8232026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.41 | 1.91 | -70.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11 | 7 | -37.1% |
| P/S Multiple | 0.3 | 0.4 | 54.3% |
| Shares Outstanding (Mil) | 0 | 2 | -69.3% |
| Cumulative Contribution | -70.2% |
Market Drivers
4/30/2026 to 8/23/2026| Return | Correlation | |
|---|---|---|
| NCRA | -70.2% | |
| Market (SPY) | 6.5% | -12.2% |
| Sector (XLP) | 2.0% | -2.2% |
Fundamental Drivers
The -88.3% change in NCRA stock from 1/31/2026 to 8/23/2026 was primarily driven by a -69.3% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312026 | 8232026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.38 | 1.91 | -88.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 9 | 7 | -24.7% |
| P/S Multiple | 0.9 | 0.4 | -49.6% |
| Shares Outstanding (Mil) | 0 | 2 | -69.3% |
| Cumulative Contribution | -88.3% |
Market Drivers
1/31/2026 to 8/23/2026| Return | Correlation | |
|---|---|---|
| NCRA | -88.3% | |
| Market (SPY) | 11.0% | -5.6% |
| Sector (XLP) | 3.5% | -3.8% |
Fundamental Drivers
The -96.1% change in NCRA stock from 7/31/2025 to 8/23/2026 was primarily driven by a -78.3% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 8232026 | Change |
|---|---|---|---|
| Stock Price ($) | 49.20 | 1.91 | -96.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12 | 7 | -41.0% |
| P/S Multiple | 2.0 | 0.4 | -78.3% |
| Shares Outstanding (Mil) | 0 | 2 | -69.7% |
| Cumulative Contribution | -96.1% |
Market Drivers
7/31/2025 to 8/23/2026| Return | Correlation | |
|---|---|---|
| NCRA | -96.1% | |
| Market (SPY) | 22.2% | 1.2% |
| Sector (XLP) | 10.0% | -1.5% |
Fundamental Drivers
The -95.2% change in NCRA stock from 7/31/2023 to 8/23/2026 was primarily driven by a -80.1% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 7312023 | 8232026 | Change |
|---|---|---|---|
| Stock Price ($) | 39.90 | 1.91 | -95.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15 | 7 | -55.1% |
| P/S Multiple | 0.8 | 0.4 | -46.3% |
| Shares Outstanding (Mil) | 0 | 2 | -80.1% |
| Cumulative Contribution | -95.2% |
Market Drivers
7/31/2023 to 8/23/2026| Return | Correlation | |
|---|---|---|
| NCRA | -95.2% | |
| Market (SPY) | 73.2% | 1.7% |
| Sector (XLP) | 22.3% | 2.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NCRA Return | 37% | -86% | 3% | -36% | 0% | -92% | -99% |
| Peers Return | -55% | -71% | -85% | -39% | 26% | -5% | -99% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| NCRA Win Rate | 50% | 17% | 58% | 25% | 58% | 25% | |
| Peers Win Rate | 26% | 33% | 25% | 29% | 46% | 44% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NCRA Max Drawdown | -57% | -87% | -57% | -53% | -59% | -96% | |
| Peers Max Drawdown | -83% | -80% | -93% | -71% | -66% | -48% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AQB, LOCL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/21/2026 (YTD)
How Low Can It Go
| Event | NCRA | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -31.1% | -7.8% |
| % Gain to Breakeven | 45.0% | 8.5% |
| Time to Breakeven | 49 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.4% | -6.7% |
| % Gain to Breakeven | 25.6% | 7.1% |
| Time to Breakeven | 54 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -45.6% | -33.7% |
| % Gain to Breakeven | 83.7% | 50.9% |
| Time to Breakeven | 29 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -12.5% | -12.2% |
| % Gain to Breakeven | 14.3% | 13.9% |
| Time to Breakeven | 41 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -22.2% | -6.8% |
| % Gain to Breakeven | 28.6% | 7.3% |
| Time to Breakeven | 41 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -44.4% | -0.2% |
| % Gain to Breakeven | 80.0% | 0.2% |
| Time to Breakeven | 195 days | 1 days |
In The Past
Nocera's stock fell -8.9% during the 2025 US Tariff Shock. Such a loss loss requires a 9.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | NCRA | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -31.1% | -7.8% |
| % Gain to Breakeven | 45.0% | 8.5% |
| Time to Breakeven | 49 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.4% | -6.7% |
| % Gain to Breakeven | 25.6% | 7.1% |
| Time to Breakeven | 54 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -45.6% | -33.7% |
| % Gain to Breakeven | 83.7% | 50.9% |
| Time to Breakeven | 29 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -22.2% | -6.8% |
| % Gain to Breakeven | 28.6% | 7.3% |
| Time to Breakeven | 41 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -44.4% | -0.2% |
| % Gain to Breakeven | 80.0% | 0.2% |
| Time to Breakeven | 195 days | 1 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -85.0% | -53.4% |
| % Gain to Breakeven | 566.7% | 114.4% |
| Time to Breakeven | 755 days | 1085 days |
In The Past
Nocera's stock fell -8.9% during the 2025 US Tariff Shock. Such a loss loss requires a 9.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Nocera (NCRA)
Nocera, Inc. (NCRA) is an aquaculture technology and services company that primarily operates in the People's Republic of China. Headquartered in New Taipei City, Taiwan, the company specializes in the design, development, and production of advanced recirculating aquaculture large-scale fish tank systems, which are vital for modern, efficient fish farming operations.
Beyond its specialized tank systems, Nocera provides a comprehensive suite of expert services. These include aquaculture consulting, technology transfer, and complete project management for various aquaculture ventures. The company further supplies fish farming containers and offers associated services such as the sale, installation, and maintenance of this essential aquaculture equipment.
Nocera's main products and services are aimed at aquaculture management businesses and fish farms within the People's Republic of China, providing them with innovative solutions and expertise to enhance their fish farming operations.
AI Analysis | Feedback
- John Deere for fish farms: Nocera provides the advanced equipment, technology, and services for aquaculture, much like John Deere does for traditional agriculture.
- The Tesla of aquaculture systems: Nocera designs and produces high-tech, recirculating fish tank systems, similar to how Tesla innovates in electric vehicles.
AI Analysis | Feedback
- Recirculating Aquaculture Systems (RAS): Nocera designs, develops, and produces large-scale recirculating aquaculture fish tank systems.
- Aquaculture Consulting and Project Management: The company offers expert consulting, technology transfer, and aquaculture project management services.
- Fish Farming Containers & Services: Nocera provides fish farming containers and related services including sale, installment, and maintenance of aquaculture equipment.
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
Andy Jin, Chief Executive Officer
Mr. Jin was appointed Chief Executive Officer on July 31, 2023. Prior to joining Nocera, he served as an Investment Director at Fotex Holding from November 2018 to June 2023, where he managed U.S. investments, strategic projects, portfolio management, and business operations. He also held the position of Partner at Bloemengroothandel B.J. Duyvenvoorde & Zn B.V. from September 2017 to October 2018, managing operations, sales, and investments for a floriculture import company in China. Additionally, he was Executive Vice President and Managing Director of Dagong Global Credit Rating Group from December 2015 to August 2017, overseeing international business development and investments in overseas markets. Mr. Jin holds a Bachelor of Arts in political science from SUNY Stony Brook and an MBA from Tsinghua University.
Jim Chuang, Chief Financial Officer
Mr. Chuang was appointed Chief Financial Officer on October 28, 2019. Before his current role, he was a project manager at Deloitte & Touche Financial Advisory Corporation in Taiwan from October 2016 to June 2019, specializing in Mergers and Acquisitions and Valuation services. He also worked as a semi-senior at Deloitte & Touche in Taiwan from September 2014 to September 2016, performing audit services for Taiwanese conglomerate companies. Mr. Chuang is a Certified Public Accountant in the U.S. and Taiwan, and holds a marketing degree from UC-Berkeley Extension and a B.S. in Accounting from Soochow University, Taiwan.
Howard Chen, Chief Operating Officer
Mr. Chen was appointed Chief Operating Officer on January 5, 2024. He brings over 30 years of executive experience across financial services, construction, sales, and business development. His previous roles include Executive Director at Rongzhou Construction Co., Ltd. from September 2021 to January 2024, Vice President at Entie Commercial Bank Co. from 2008 to 2021, Asia Pacific Regional Business Development Director at CIT Group Taiwan from 2005 to 2008, Sales Director at Taipei Financial & Leasing Co. from 2004 to 2005, and Sales Manager at Far Eastern Group from 2000 to 2004. He earned an MBA from the University of Leicester in 1989.
Gerald H. Lindberg, Secretary
Mr. Lindberg was appointed Secretary and Director on December 31, 2021. Prior to his appointment, he provided substantial expertise and guidance as a consultant for Hanover International for five years.
Andrew Teng, Asia Director
Mr. Teng was appointed Asia Director effective September 2, 2025.
AI Analysis | Feedback
- Financial Instability and Reporting Deficiencies: Nocera has consistently reported net losses, negative earnings per share, and weak gross profit margins, indicating ongoing challenges in achieving profitability. The company has also faced significant issues with its financial reporting, including Nasdaq non-compliance for delayed annual report filings and the restatement of financial statements due to material accounting errors related to warrant liabilities. These issues raise serious concerns about Nocera's operational transparency, internal controls, and overall ability to sustain its operations and maintain its listing status.
- Dependence on the Evolving and Challenging Aquaculture Industry (especially in China): Nocera's core business is entirely reliant on the health and growth of the aquaculture sector. This industry is susceptible to significant risks such as stringent environmental regulations, potential disease outbreaks in fish populations, shifts in consumer demand, and public health concerns related to farmed seafood. Operating primarily in the People's Republic of China further exposes Nocera to specific regulatory changes and economic fluctuations within that region, which can directly impact the demand for its aquaculture systems and services.
- High Costs and Technical Complexities of Recirculating Aquaculture Systems (RAS): Nocera specializes in designing and producing large-scale recirculating aquaculture systems. While RAS offers sustainability benefits, its adoption and successful operation face challenges, including high initial capital investment costs for infrastructure and equipment, significant ongoing operating expenses (such as continuous electricity and oxygen supply), and the critical need for highly trained personnel to manage and monitor these complex systems. These factors, alongside potential risks like pathogen circulation and the need for rapid responses to technical failures, can hinder the widespread adoption of RAS and impact the profitability and success of Nocera's clients, thereby limiting Nocera's market potential.
AI Analysis | Feedback
AI Analysis | Feedback
The addressable markets for Nocera (NCRA) main products and services are significant, particularly within the Asia-Pacific region and globally. Nocera, Inc. specializes in aquaculture consulting and management, the design and production of recirculating aquaculture large-scale fish tank systems, and providing fish farming containers and related services, primarily operating in the People's Republic of China.
For Recirculating Aquaculture Systems (RAS), a key offering of Nocera, the global market was estimated at approximately USD 3.4 billion in 2024 and is projected to grow to USD 8.2 billion by 2034, with a Compound Annual Growth Rate (CAGR) of 9.4% from 2025 to 2034. Another estimate places the global RAS market at USD 6.4 billion in 2023, expected to reach USD 13.2 billion by 2030, exhibiting a CAGR of 10.9% from 2024 to 2030. The Asia-Pacific market for RAS, a crucial region for Nocera, is anticipated to increase from USD 2,199.02 million in 2023 to USD 4,244.47 million by 2030, at a CAGR of 9.80% from 2024 to 2030. Specifically, China held a 37.6% market share in the Asia Pacific recirculating aquaculture system industry in 2024 and is expected to grow at a CAGR of 9.7% from 2025 to 2034.
In the realm of Aquaculture Consulting and Management Services, the global market was valued at approximately USD 4.7 billion in 2024 and is projected to reach USD 13.2 billion by 2033, with a robust CAGR of 11.2% from 2025 to 2033. The Asia-Pacific region is poised for the highest growth in this market, driven by the expanding aquaculture industries in countries like China, India, and Southeast Asia.
Regarding Fish Farming Containers and general Aquaculture Equipment, the global aquaculture equipment market was valued at USD 21.04 billion in 2024 and is forecast to grow to USD 37.1 billion by 2033, with a CAGR of 7.2% from 2025 to 2033. Asia-Pacific is the dominant region in this market, with China leading and accounting for nearly 45% of the regional share in 2025. The global fish farming equipment market specifically was estimated at USD 2.8 billion in 2024, with projections to reach USD 4.8 billion by 2034 at a CAGR of 5.5% from 2025 to 2034.
AI Analysis | Feedback
Nocera, Inc. (NCRA) is positioned for future revenue growth over the next 2-3 years, driven by its strategic expansion in key aquaculture markets and diversification initiatives.
-
Expansion of Recirculating Aquaculture Systems (RAS) Fish Farming Operations in the United States: Nocera has acquired land in Montgomery, Alabama, to establish its first large-scale fish farm in the U.S., which is intended to serve as a model for future domestic expansion. The company aims to construct several such facilities across the United States.
-
Strategic Expansion of Aquaculture Initiatives in Asian Markets: Nocera is actively broadening its aquaculture footprint in the Asian region, targeting countries such as Taiwan, China, Vietnam, and Thailand. This expansion is supported by factors like the Taiwanese government's focus on fishery-solar synergies and efforts to control equipment manufacturing costs in China, as well as fish fry, fingerling, and feed costs in Vietnam and Thailand.
-
Increased Demand for Nocera's Core RAS Technology and Services: The company's fundamental business involves the design, development, and production of large-scale recirculating aquaculture fish tank systems, complemented by expert consulting, technology transfer, and project management services for new and existing aquaculture facilities. Nocera anticipates that its proprietary technology and design in RAS will provide a substantial competitive advantage.
-
Revenue Generation from Strategic Acquisitions in Diversified Sectors: Nocera has adopted an "industry-agnostic, acquisition-focused" strategy, indicating a proactive approach to acquiring businesses beyond its traditional aquaculture operations. This strategy includes a recent shift towards e-commerce, and the company has announced plans to allocate capital towards strategic acquisitions and growth opportunities, potentially leading to new revenue streams from acquired entities.
AI Analysis | Feedback
Share Issuance
- In November 2025, Nocera secured a private placement of up to $300 million to support its digital asset strategy and strategic acquisitions.
- Nocera closed an initial $8 million funding round in November 2025.
- On July 5, 2023, the company issued 325,708 shares of common stock upon the exercise of warrants, generating gross proceeds of $626,987.
- In August 2022, Nocera completed a Composite Units Offering, raising $6.58 million.
Inbound Investments
- In November 2025, Nocera closed an initial funding round of $8 million.
- The company secured up to $300 million in a private placement in November 2025, intended to support its digital asset strategy and strategic acquisitions.
Outbound Investments
- In December 2025, Nocera announced a $2 million allocation for the acquisition of Bitcoin (BTC).
- Nocera made a strategic investment of $0.5 million in Tachyonext Inc. in June 2025, to enter the U.S. e-commerce market and expand its consumer tech portfolio.
- On September 7, 2022, Nocera acquired an 80% controlling interest in Meixin Institutional Food Development Co., Ltd. for $4.3 million.
Capital Expenditures
- In Q3 2025, Nocera reported $0 in capital expenditures.
- For a recent fiscal year (implied 2024), capital expenditures of $956 were reported, consuming a significant portion of operating cash flow.
Peer Outperformance in Packaged Foods & Meats
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Consumer Staples Merchandise Retail | 12 | 3.7% | 48.4% | 56.7% | NGVC 186% · VLGEA 142% · PSMT 123% |
| Tobacco | 6 | -15.5% | 13.6% | 52.1% | PM 136% · MO 102% · TPB 80% |
| Food Retail | 6 | -14.9% | 70.6% | 39.3% | CASY 326% · SFM 234% · KR 41% |
| Soft Drinks & Non-alcoholic Beverages | 12 | -5.3% | -10.1% | 23.1% | COKE 398% · BRFH 202% · CCHGY 114% |
| Food Distributors | 9 | 3.7% | 39.0% | 22.4% | CHEF 273% · USFD 225% · ANDE 140% |
| Brewers | 3 | -15.2% | -23.9% | 4.1% | BUD 40% · TAP 4% · SAM -69% |
| Agricultural Products & Services | 11 | 4.1% | 1.9% | -11.5% | BG 71% · ADM 55% · INGR 41% |
| Household Products | 19 | 1.2% | -4.0% | -23.7% | ACU 76% · IPAR 76% · CL 32% |
| Personal Care Products | 4 | -7.6% | -14.8% | -25.8% | ELF 242% · PG 15% · COTY -66% |
| Packaged Foods & Meats ← | 48 | -19.6% | -26.1% | -34.0% | MAMA 540% · LWAY 377% · SENEA 288% |
| Distillers & Vintners | 6 | -39.1% | -63.9% | -76.3% | STZ -31% · BF-B -55% · MGPI -70% |
| Drug Retail | 3 | -43.9% | -84.2% | -93.0% | HITI -66% · PETS -93% · SCNX -99% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Can Nocera Stock Recover If Markets Fall? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 1.31 |
| Mkt Cap | 0.0 |
| Rev LTM | 7 |
| Op Inc LTM | -4 |
| FCF LTM | -7 |
| FCF 3Y Avg | -21 |
| CFO LTM | -7 |
| CFO 3Y Avg | -12 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -2.4% |
| Rev Chg 3Y Avg | 3.4% |
| Rev Chg Q | -15.8% |
| QoQ Delta Rev Chg LTM | -8.7% |
| Op Inc Chg LTM | 10.1% |
| Op Inc Chg 3Y Avg | 9.9% |
| Op Mgn LTM | -84.0% |
| Op Mgn 3Y Avg | -91.6% |
| QoQ Delta Op Mgn LTM | -7.6% |
| CFO/Rev LTM | -49.3% |
| CFO/Rev 3Y Avg | -48.1% |
| FCF/Rev LTM | -52.5% |
| FCF/Rev 3Y Avg | -139.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Fish Trading | 11 | 17 | |||
| E-Commerce | 0 | 0 | |||
| Catering segment | 0 | ||||
| Single Segment | 24 | 14 | 10 | ||
| Total | 11 | 17 | 24 | 14 | 10 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| E-Commerce | 0 | -1 |
| Fish Trading | -3 | -0 |
| Catering segment | -1 | |
| Total | -2 | -2 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| E-Commerce | 0 | -1 |
| Fish Trading | -3 | -0 |
| Catering segment | -1 | |
| Total | -3 | -2 |
Price Behavior
| Market Price | $1.91 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 02/23/2007 | |
| Distance from 52W High | -96.8% | |
| 50 Days | 200 Days | |
| DMA Price | $2.25 | $12.78 |
| DMA Trend | down | down |
| Distance from DMA | -15.0% | -85.1% |
| 3M | 1YR | |
| Volatility | 290.1% | 173.7% |
| Downside Capture | 194.16 | 355.58 |
| Upside Capture | -443.02 | -87.78 |
| Correlation (SPY) | -15.7% | 1.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -17.50 | -4.86 | -2.87 | -0.88 | 0.17 | 0.15 |
| Up Beta | -11.31 | 1.35 | 0.81 | 0.78 | 0.75 | -0.25 |
| Down Beta | -51.72 | -11.98 | -12.46 | -6.79 | -2.48 | -0.05 |
| Up Capture | -588% | -400% | -145% | -76% | -35% | -0% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 7 | 13 | 25 | 55 | 96 | 302 |
| Down Capture | -260% | 117% | 294% | 231% | 185% | 106% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 15 | 29 | 37 | 70 | 142 | 376 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NCRA | |
|---|---|---|---|---|
| NCRA | -96.1% | 172.8% | -1.16 | - |
| Sector ETF (XLP) | 5.5% | 14.3% | 0.15 | -1.6% |
| Equity (SPY) | 21.1% | 12.9% | 1.22 | 1.1% |
| Gold (GLD) | 37.5% | 28.8% | 1.10 | 1.9% |
| Commodities (DBC) | 43.2% | 20.2% | 1.66 | 7.0% |
| Real Estate (VNQ) | 12.9% | 13.8% | 0.64 | 0.5% |
| Bitcoin (BTCUSD) | -31.6% | 44.1% | -0.73 | 6.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NCRA | |
|---|---|---|---|---|
| NCRA | -60.2% | 120.6% | -0.23 | - |
| Sector ETF (XLP) | 6.1% | 13.6% | 0.23 | 5.7% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 4.1% |
| Gold (GLD) | 20.6% | 18.6% | 0.90 | -0.5% |
| Commodities (DBC) | 10.4% | 19.6% | 0.41 | -0.1% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 3.2% |
| Bitcoin (BTCUSD) | 10.4% | 52.8% | 0.38 | 1.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NCRA | |
|---|---|---|---|---|
| NCRA | -31.3% | 380.8% | 0.73 | - |
| Sector ETF (XLP) | 7.4% | 14.9% | 0.36 | 0.2% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | -0.6% |
| Gold (GLD) | 12.7% | 16.2% | 0.64 | 1.3% |
| Commodities (DBC) | 8.0% | 18.0% | 0.36 | -1.9% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | -0.0% |
| Bitcoin (BTCUSD) | 63.1% | 66.1% | 1.03 | 1.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 04/15/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 05/06/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/21/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/18/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 04/15/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 05/06/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/21/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/18/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 08/11/2022 | 424B4 |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/10/2021 | 10-Q |
Insider Activity
Updated 8/19/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hrt, Financial LP | Direct | Sell | 7012026 | 0.10 | 199,781 | 20,178 | 136,052 | Form | |
| 2 | Hrt, Financial LP | Direct | Buy | 7012026 | 0.10 | 117,565 | 12,109 | 159,324 | Form | |
| 3 | Hrt, Financial LP | Direct | Sell | 6292026 | 0.10 | 95,466 | 9,069 | 158,118 | Form | |
| 4 | Hrt, Financial LP | Direct | Buy | 6292026 | 0.09 | 137,430 | 12,644 | 161,907 | Form | |
| 5 | Hrt, Financial LP | Direct | Sell | 6252026 | 0.10 | 80,661 | 8,227 | 165,488 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hrt, Financial LP | Direct | Sell | 7012026 | 0.10 | 199,781 | 20,178 | 136,052 | Form | |
| 2 | Hrt, Financial LP | Direct | Buy | 7012026 | 0.10 | 117,565 | 12,109 | 159,324 | Form | |
| 3 | Hrt, Financial LP | Direct | Sell | 6292026 | 0.10 | 95,466 | 9,069 | 158,118 | Form | |
| 4 | Hrt, Financial LP | Direct | Buy | 6292026 | 0.09 | 137,430 | 12,644 | 161,907 | Form | |
| 5 | Hrt, Financial LP | Direct | Sell | 6252026 | 0.10 | 80,661 | 8,227 | 165,488 | Form | |
| 6 | Hrt, Financial LP | Direct | Sell | 6252026 | 0.11 | 12,188 | 1,292 | 180,528 | Form |
Industry Resources
| Consumer Staples Resources |
| FoodNavigator |
| Consumer Goods Technology (CGT) |
| Beverage Digest |
| Packaged Foods & Meats Resources |
| USDA Data |
| Food Processing |
| Meat+Poultry |
| Just Food |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.