Gulf Resources, Inc. (NASDAQ:GURE) Stock Short Interest Falls 59.0%

Gulf Resources, Inc. (NASDAQ:GURE) saw a large drop in short interest in September. As of September 15th, there was short interest totaling 2,052 shares, a drop of 59.0% from the August 31st total of 5,010 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 6,114 shares, the short-interest ratio is currently 0.3 days.

Gulf Resources Stock Performance

Shares of GURE stock traded up $0.03 on Monday, hitting $3.29. The company had a trading volume of 30,348 shares, compared to its average volume of 42,435. Gulf Resources has a twelve month low of $2.04 and a twelve month high of $11.83. The company has a 50-day moving average price of $3.31 and a 200-day moving average price of $4.05. The firm has a market cap of $5.95 million, a P/E ratio of -0.11 and a beta of -0.06. The company has a quick ratio of 2.30, a current ratio of 2.34 and a debt-to-equity ratio of 0.05.

Gulf Resources (NASDAQ:GURE) last issued its earnings results on Friday, August 28th. The specialty chemicals company reported ($2.48) earnings per share (EPS) for the quarter. The business had revenue of $2.37 million during the quarter. Gulf Resources had a negative return on equity of 10.03% and a negative net margin of 165.06%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Gulf Resources from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. One equities research 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 Company Profile

Gulf Resources, Inc is a China-based chemical manufacturing company that produces and sells bromine, crude salt and specialty chemical products. Its operations are primarily conducted through subsidiaries located in Shouguang, Shandong Province, an area known for chemical production and brine resources.

Bromine is used in a range of industrial applications, including flame retardants, water-treatment compounds, pharmaceuticals, agricultural chemicals, dyes and oil- and gas-field fluids.