Gulf Resources, Inc. (NASDAQ:GURE) Short Interest Update

Gulf Resources, Inc. (NASDAQ:GURE) saw a significant drop in short interest during the month of 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. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 16,834 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Gulf Resources has a consensus rating of “Sell”.

Gulf Resources Stock Down 3.4%

Shares of GURE stock opened at $4.28 on Thursday. The company has a market capitalization of $6.59 million, a price-to-earnings ratio of -0.09 and a beta of -0.18. Gulf Resources has a one year low of $2.04 and a one year high of $11.83. The company’s fifty day moving average price is $4.73 and its 200-day moving average price is $4.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.92 and a quick ratio of 0.89.

Institutional Investors Weigh In On Gulf Resources

A hedge fund recently raised its stake in Gulf Resources stock. Citadel Advisors LLC boosted its holdings in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 112,944 shares of the specialty chemicals company’s stock after buying 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.

About Gulf Resources

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.