Short Interest in Fitell Corp (NASDAQ:GMEX) Decreases By 46.7%

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

Fitell Trading Up 6.1%

Fitell stock traded up $0.07 during mid-day trading on Monday, hitting $1.21. The company’s stock had a trading volume of 652,997 shares, compared to its average volume of 587,399. The business has a fifty day moving average price of $3.34. The company has a debt-to-equity ratio of 3.78, a quick ratio of 3.98 and a current ratio of 4.88. Fitell has a 1 year low of $0.99 and a 1 year high of $7,958.21.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GMEX. Weiss Ratings restated a “sell (d-)” rating on shares of Fitell in a research report on Friday, July 24th. Wall Street Zen cut Fitell from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Fitell Company Profile

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.