Fitell Corp (NASDAQ:GMEX) Short Interest Down 46.7% in July

Fitell Corp (NASDAQ:GMEX) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 57,612 shares, a decline of 46.7% from the July 15th total of 108,098 shares. Currently, 6.4% of the shares of the company are short sold. Based on an average daily volume of 2,806,224 shares, the days-to-cover ratio is currently 0.0 days.

Fitell Trading Down 3.4%

Fitell stock traded down $0.04 during midday trading on Friday, reaching $1.14. 104,930 shares of the company were exchanged, compared to its average volume of 2,083,160. The company’s 50-day moving average is $3.34. Fitell has a 1 year low of $0.99 and a 1 year high of $7,958.21. The company has a current ratio of 4.88, a quick ratio of 3.98 and a debt-to-equity ratio of 3.78.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GMEX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fitell in a report on Friday, July 24th. Wall Street Zen cut shares of Fitell from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Fitell presently has an average rating of “Sell”.

About Fitell

Founded in 2007 and headquartered in New South Wales, Australia, GD Wellness Pty Ltd (“GD”) is a wholly owned subsidiary of Fitell Corporation, a Cayman Islands company (together with its subsidiaries, “Fitell,”). We are an online retailer of gym and fitness equipment both under our proprietary brands and other brand names. Fitell’s mission is to build an ecosystem with a whole fitness and wellness experience powered by technology to our customers. GD has served over 100,000 customers with large portions of sales from repeat customers over the years, which we believe to be a testament of our product quality and brand loyalty.