Short Interest in Gulf Resources, Inc. (NASDAQ:GURE) Drops By 49.1%

Gulf Resources, Inc. (NASDAQ:GURE) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 566 shares, a decrease of 49.1% from the July 15th total of 1,111 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 2,246 shares, the short-interest ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Gulf Resources Price Performance

NASDAQ GURE traded down $0.01 on Monday, hitting $3.00. The company had a trading volume of 5,715 shares, compared to its average volume of 29,726. The company’s fifty day moving average price is $3.55 and its 200-day moving average price is $4.39. The company has a market capitalization of $4.62 million, a PE ratio of -0.06 and a beta of -0.10. Gulf Resources has a 12-month low of $2.04 and a 12-month high of $11.83.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Gulf Resources stock. Citadel Advisors LLC raised its position in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 about 8.46% of Gulf Resources worth $59,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.28% of the company’s stock.

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.