Caravelle International Group (HTCO) said Monday it regained compliance with Nasdaq's minimum bid price requirement.

The regulator notified the company on July 26 that it was not in compliance with the minimum bid price requirement as the company's ordinary stock closed less than $1 a share for more than 30 consecutive business sessions, it added.

Nasdaq confirmed that Caravelle's ordinary shares closed at least $1 per share from Oct. 18 to Nov. 13, the ocean technology company said.

Shares of Caravelle International were up 4.8% in recent trading.

Price: 1.32, Change: +0.06, Percent Change: +4.76