Gulf Resources, Inc. (NASDAQ:GURE) Short Interest Up 723.1% in August

Gulf Resources, Inc. (NASDAQ:GURE) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 4,659 shares, a growth of 723.1% from the July 30th total of 566 shares. Based on an average daily volume of 14,587 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Gulf Resources

An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC boosted its holdings in shares of Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,944 shares of the specialty chemicals company’s stock after acquiring an additional 28,020 shares during the quarter. Citadel Advisors LLC owned approximately 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 Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Gulf Resources from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 18th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Gulf Resources has a consensus rating of “Sell”.

Gulf Resources Price Performance

Shares of NASDAQ GURE traded down $0.14 during mid-day trading on Thursday, reaching $3.36. The company had a trading volume of 2,751 shares, compared to its average volume of 28,507. The company has a 50-day moving average price of $3.43 and a two-hundred day moving average price of $4.32. The stock has a market cap of $6.08 million, a PE ratio of -0.10 and a beta of -0.10. The company has a current ratio of 2.98, a quick ratio of 2.91 and a debt-to-equity ratio of 0.07. Gulf Resources has a 1-year low of $2.04 and a 1-year high of $11.83.

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.