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

Fitell Corp (NASDAQ:GMEX) was the target of a significant drop in short interest in October. As of October 30th, there was short interest totaling 12,722 shares, a drop of 77.1% from the October 15th total of 55,579 shares. Based on an average daily trading volume, of 1,235,611 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.7% of the shares of the stock are short sold.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Fitell from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Fitell in a research report on Monday. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Fitell Trading Up 0.1%

Shares of NASDAQ:GMEX opened at $0.48 on Thursday. The company has a debt-to-equity ratio of 1.33, a current ratio of 10.17 and a quick ratio of 9.68. The firm’s fifty day moving average is $2.50. Fitell has a one year low of $0.41 and a one year high of $9,072.00.

Fitell (NASDAQ:GMEX) last issued its earnings results on Monday, November 2nd. The company reported ($500.53) earnings per share (EPS) for the quarter. The company had revenue of $1.44 million during the quarter. As a group, equities research analysts anticipate that Fitell will post -18.31 earnings per share for the current fiscal year.

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.