Short Interest in Gulf Resources, Inc. (NASDAQ:GURE) Decreases By 51.9%

Gulf Resources, Inc. (NASDAQ:GURE) was the target of a large drop in short interest in June. As of June 30th, there was short interest totaling 969 shares, a drop of 51.9% from the June 15th total of 2,013 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 22,336 shares, the short-interest ratio is currently 0.0 days.

Institutional Trading of Gulf Resources

A hedge fund recently raised its position in Gulf Resources stock. Citadel Advisors LLC boosted its stake in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,944 shares of the specialty chemicals company’s stock after acquiring an additional 28,020 shares during the period. Citadel Advisors LLC owned 8.46% of Gulf Resources worth $59,000 at the end of the most recent reporting period. 3.28% of the stock is currently owned by institutional investors.

Gulf Resources Price Performance

GURE traded down $0.04 on Wednesday, reaching $3.44. The company’s stock had a trading volume of 2,282 shares, compared to its average volume of 32,823. Gulf Resources has a 1 year low of $2.04 and a 1 year high of $11.83. The business’s 50 day moving average is $3.93 and its 200 day moving average is $4.51. The stock has a market cap of $5.30 million, a price-to-earnings ratio of -0.07 and a beta of -0.13.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus 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.