Fitell Corp (NASDAQ:GMEX) Short Interest Up 131.1% in May

Fitell Corp (NASDAQ:GMEX) was the target of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 130,859 shares, an increase of 131.1% from the May 14th total of 56,627 shares. Based on an average daily trading volume, of 4,740,094 shares, the short-interest ratio is currently 0.0 days. Currently, 15.0% of the shares of the company are sold short.

Fitell Stock Performance

NASDAQ GMEX opened at $0.79 on Friday. The company has a quick ratio of 3.98, a current ratio of 4.88 and a debt-to-equity ratio of 3.78. Fitell has a 12-month low of $0.71 and a 12-month high of $1,075.20.

Fitell (NASDAQ:GMEX) last posted its quarterly earnings data on Friday, April 17th. The company reported ($59.46) earnings per share (EPS) for the quarter. The business had revenue of $1.37 million for the quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GMEX. Wall Street Zen upgraded shares of Fitell to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings began coverage on shares of Fitell in a research note on Monday, April 27th. They issued a “sell (d-)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Fitell 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.