Gulf Resources, Inc. (NASDAQ:GURE – Get Free Report) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 2,936 shares, a drop of 67.2% from the May 14th total of 8,962 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 16,834 shares, the days-to-cover ratio is presently 0.2 days.
Gulf Resources Stock Performance
Shares of NASDAQ GURE opened at $4.28 on Thursday. The firm’s 50-day moving average price is $4.73 and its 200-day moving average price is $4.60. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.01. The company has a market cap of $6.59 million, a PE ratio of -0.09 and a beta of -0.18. Gulf Resources has a 52-week low of $2.04 and a 52-week high of $11.83.
Hedge Funds Weigh In On Gulf Resources
An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC increased its holdings in Gulf Resources, Inc. (NASDAQ:GURE – Free Report) by 33.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,944 shares of the specialty chemicals company’s stock after buying an additional 28,020 shares during the quarter. 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 and hedge funds.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on GURE
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.
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