Gulf Resources, Inc. (NASDAQ:GURE) Shares Shorted: Short Interest Up 373.5% in September

Gulf Resources, Inc. (NASDAQ:GURE) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 9,717 shares, a growth of 373.5% from the September 15th total of 2,052 shares. Based on an average trading volume of 309,625 shares, the short-interest ratio is currently 0.0 days. Approximately 0.6% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 28th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the company has a consensus rating of “Sell”.

Gulf Resources Trading Down 5.9%

NASDAQ:GURE traded down $0.17 during trading hours on Friday, reaching $2.73. 256,215 shares of the stock were exchanged, compared to its average volume of 199,079. Gulf Resources has a twelve month low of $2.04 and a twelve month high of $11.83. The business has a 50-day moving average of $3.25 and a two-hundred day moving average of $3.94. The company has a market capitalization of $4.94 million, a price-to-earnings ratio of -0.09 and a beta of -0.02. The company has a quick ratio of 2.58, a current ratio of 2.65 and a debt-to-equity ratio of 0.05.

Gulf Resources (NASDAQ:GURE) last issued its quarterly earnings data on Wednesday, September 30th. The specialty chemicals company reported $0.64 earnings per share for the quarter. Gulf Resources had a negative return on equity of 8.95% and a negative net margin of 134.41%. The business had revenue of $12.89 million during the quarter.

Gulf Resources Company Profile

Gulf Resources, Inc is a chemical manufacturing company based in China. Through its subsidiaries, the company produces bromine, crude salt and specialty chemical products for industrial and commercial customers.

Its bromine products are used in applications including brominated compounds, flame retardants, pharmaceuticals, water treatment and oil and gas drilling fluids. The company’s specialty chemicals have included bromine-based materials such as calcium bromide and sodium bromide, while crude salt is produced as a separate chemical industry product.

Gulf Resources’ production operations are located in and around Shouguang City in Shandong Province, China, an area known for bromine and brine resources.