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

Gulf Resources, Inc. (NASDAQ:GURE) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 7,400 shares, a decrease of 80.2% from the September 15th total of 37,400 shares. Based on an average daily trading volume, of 26,000 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the shares of the company are sold short.

In other news, COO Naihui Miao sold 166,230 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $0.72, for a total value of $119,685.60. Following the completion of the sale, the chief operating officer now directly owns 90,575 shares of the company’s stock, valued at $65,214. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ming Yang bought 661,648 shares of Gulf Resources stock in a transaction dated Thursday, September 5th. The stock was acquired at an average cost of $0.72 per share, with a total value of $476,386.56. Following the completion of the acquisition, the director now directly owns 3,173,848 shares of the company’s stock, valued at approximately $2,285,170.56. The disclosure for this purchase can be found here. 30.10% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in Gulf Resources stock. Citadel Advisors LLC increased its position in shares of Gulf Resources, Inc. (NASDAQ:GURE) by 253.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,060 shares of the specialty chemicals company’s stock after purchasing an additional 30,155 shares during the period. Citadel Advisors LLC owned approximately 0.09% of Gulf Resources worth $41,000 as of its most recent SEC filing. 6.85% of the stock is owned by hedge funds and other institutional investors.

Separately, ValuEngine raised shares of Gulf Resources from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

NASDAQ GURE traded up $0.06 during trading hours on Monday, hitting $0.74. 5,500 shares of the stock were exchanged, compared to its average volume of 29,604. Gulf Resources has a 12-month low of $0.63 and a 12-month high of $1.48. The stock has a 50-day moving average of $0.72 and a 200 day moving average of $0.95. The company has a current ratio of 5.30, a quick ratio of 5.28 and a debt-to-equity ratio of 0.03.

Gulf Resources (NASDAQ:GURE) last posted its quarterly earnings results on Wednesday, August 14th. The specialty chemicals company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $6.01 million for the quarter.

About Gulf Resources

Gulf Resources, Inc, through its subsidiaries, manufactures and trades in bromine, crude salt, chemical products, and natural gas in the People's Republic of China. It provides bromine for use in brominated flame retardants, fumigants, water purification compounds, dyes, medicines, and disinfectants.

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