Gulf Resources, Inc. (NASDAQ:GURE – Get Free Report) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 4,659 shares, an increase of 723.1% from the July 30th total of 566 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 14,587 shares, the days-to-cover ratio is presently 0.3 days.
Institutional Trading of Gulf Resources
An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC grew its holdings in Gulf Resources, Inc. (NASDAQ:GURE – Free Report) by 33.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing. 3.28% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded shares of Gulf Resources from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.
Gulf Resources Trading Up 5.9%
Shares of NASDAQ:GURE opened at $3.39 on Wednesday. The stock’s 50-day simple moving average is $3.44 and its two-hundred day simple moving average is $4.33. The stock has a market capitalization of $6.14 million, a price-to-earnings ratio of -0.11 and a beta of -0.10. Gulf Resources has a 52-week low of $2.04 and a 52-week high of $11.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.91 and a current ratio of 2.98.
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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