Gulf Resources, Inc. (NASDAQ:GURE – Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 5,273 shares, a decrease of 45.7% from the September 30th total of 9,717 shares. Based on an average trading volume of 94,091 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.3% of the company’s shares are sold short.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings cut shares of Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.
Get Our Latest Stock Analysis on Gulf Resources
Gulf Resources Stock Performance
NASDAQ:GURE traded down $0.14 during mid-day trading on Friday, reaching $2.95. 3,948 shares of the stock were exchanged, compared to its average volume of 72,646. The company has a 50 day simple moving average of $3.21 and a 200-day simple moving average of $4.05. The stock has a market capitalization of $5.34 million, a P/E ratio of -0.10 and a beta of -0.02. Gulf Resources has a 1 year low of $2.04 and a 1 year high of $11.83. The company has a quick ratio of 2.58, a current ratio of 2.65 and a debt-to-equity ratio of 0.05.
Gulf Resources (NASDAQ:GURE – Get Free Report) last posted its quarterly earnings data on Wednesday, September 30th. The specialty chemicals company reported $0.64 EPS for the quarter. The firm had revenue of $12.89 million during the quarter. Gulf Resources had a negative return on equity of 8.95% and a negative net margin of 134.41%.
Gulf Resources Company Profile
Gulf Resources, Inc is a China-based manufacturer of bromine, crude salt and specialty chemical products. The company’s bromine products serve as raw materials for applications including flame retardants, oilfield completion fluids, pharmaceuticals, biocides and water-treatment products.
Through its operating subsidiaries, Gulf Resources has historically conducted production activities in Shouguang City, Shandong Province, an area known for bromine and salt resources. Its specialty chemical operations produce bromine-based and other industrial chemicals for customers in China and related markets.
The company has also reported involvement in well-drilling services and related activities.
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