Gulf Resources, Inc. (NASDAQ:GURE) Short Interest Update

Gulf Resources, Inc. (NASDAQ:GURE) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 2,936 shares, a drop of 67.2% from the May 14th total of 8,962 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 16,834 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Gulf Resources

A hedge fund recently raised its stake in Gulf Resources stock. Citadel Advisors LLC lifted its holdings in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,944 shares of the specialty chemicals company’s stock after buying an additional 28,020 shares during the period. Citadel Advisors LLC owned about 8.46% of Gulf Resources worth $59,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 3.28% of the company’s stock.

Gulf Resources Stock Up 9.8%

Shares of Gulf Resources stock traded up $0.38 during midday trading on Friday, hitting $4.25. The company’s stock had a trading volume of 15,613 shares, compared to its average volume of 12,301. The firm has a market capitalization of $6.55 million, a P/E ratio of -0.09 and a beta of -0.18. The stock has a 50-day simple moving average of $4.61 and a 200-day simple moving average of $4.60. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.01. Gulf Resources has a 1-year low of $2.04 and a 1-year high of $11.83.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

About Gulf Resources

Gulf Resources, Inc (NASDAQ: GURE) is an industrial mineral exploration and development company focused on phosphate rock and related product development. The company’s primary objective is to advance mineral projects that supply phosphate-based raw materials for agricultural and industrial applications, including production of fertilizers, animal feed supplements and specialty chemical precursors.

Gulf Resources’ flagship asset is its Hamilton County phosphate project in north central Florida, where it holds extensive mineral leases covering phosphate-bearing formations.