Fitell Corp (NASDAQ:GMEX) Stock Short Interest Report for October

Fitell Corp (NASDAQ:GMEX) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 55,579 shares, a growth of 76.9% from the September 30th total of 31,421 shares. Based on an average trading volume of 538,989 shares, the days-to-cover ratio is currently 0.1 days. Currently, 7.4% of the shares of the stock are short sold.

Fitell Trading Down 3.3%

Shares of GMEX traded down $0.03 during mid-day trading on Friday, reaching $0.85. 24,913 shares of the company’s stock traded hands, compared to its average volume of 1,016,287. The firm’s 50-day simple moving average is $3.89. Fitell has a 12 month low of $0.75 and a 12 month high of $15,830.64.

Analyst Upgrades and Downgrades

GMEX has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fitell in a research note on Friday, July 24th. Wall Street Zen downgraded Fitell from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Fitell Company Profile

Fitell Corporation is an Australia-based fitness equipment retailer and distributor. Through its Gym Direct and related operations, the company offers a range of products for home, commercial and institutional fitness environments, including strength-training equipment, cardio machines, free weights, accessories and gym fit-out solutions.

The company serves individual consumers, gyms, personal trainers, sports clubs, schools and other commercial customers through online and business-to-business sales channels.