Fitell Corp (NASDAQ:GMEX) Short Interest Down 46.7% in July

Fitell Corp (NASDAQ:GMEX) was the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 57,612 shares, a drop of 46.7% from the July 15th total of 108,098 shares. Approximately 6.4% of the company’s shares are short sold. Based on an average daily trading volume, of 2,806,224 shares, the short-interest ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Fitell from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fitell in a research report on Friday, July 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Fitell Price Performance

GMEX traded down $0.04 during trading hours on Friday, reaching $1.14. 104,930 shares of the stock traded hands, compared to its average volume of 2,083,160. Fitell has a fifty-two week low of $0.99 and a fifty-two week high of $7,958.21. The company has a current ratio of 4.88, a quick ratio of 3.98 and a debt-to-equity ratio of 3.78. The business’s fifty day moving average price is $3.34.

Fitell Company Profile

Founded in 2007 and headquartered in New South Wales, Australia, GD Wellness Pty Ltd (“GD”) is a wholly owned subsidiary of Fitell Corporation, a Cayman Islands company (together with its subsidiaries, “Fitell,”). We are an online retailer of gym and fitness equipment both under our proprietary brands and other brand names. Fitell’s mission is to build an ecosystem with a whole fitness and wellness experience powered by technology to our customers. GD has served over 100,000 customers with large portions of sales from repeat customers over the years, which we believe to be a testament of our product quality and brand loyalty.