Gulf Resources (NASDAQ:GURE) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Gulf Resources, Inc. (NASDAQ:GURE)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.82 and traded as high as $5.57. Gulf Resources shares last traded at $5.38, with a volume of 45,923 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Gulf Resources in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Gulf Resources has a consensus rating of “Sell”.

Gulf Resources Stock Performance

The firm has a fifty day moving average of $5.35 and a 200-day moving average of $4.81. The firm has a market cap of $8.10 million, a P/E ratio of -0.11 and a beta of 0.13. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Gulf Resources

An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC boosted its position in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 quarter. Institutional investors and hedge funds own 3.28% of the company’s stock.

Gulf Resources Company Profile

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.