Fitell Corp (NASDAQ:GMEX) Sees Large Drop in Short Interest

Fitell Corp (NASDAQ:GMEX) was the target of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 38,837 shares, a decline of 32.6% from the July 30th total of 57,612 shares. Approximately 4.3% of the shares of the company are short sold. Based on an average daily volume of 605,555 shares, the short-interest ratio is currently 0.1 days.

Fitell Stock Performance

NASDAQ:GMEX traded down $0.11 during mid-day trading on Tuesday, hitting $0.85. The company’s stock had a trading volume of 295,744 shares, compared to its average volume of 578,480. 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 fifty-two week low of $0.83 and a fifty-two week high of $7,958.21. The company has a fifty day simple moving average of $2.01.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fitell in a research report on Friday, July 24th. Wall Street Zen lowered shares of Fitell from a “sell” rating to a “strong sell” rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Fitell currently has a consensus 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.