Fitell Corp (NASDAQ:GMEX) Stock Short Interest Falls 79.0%

Fitell Corp (NASDAQ:GMEX) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 31,421 shares, a decrease of 79.0% from the September 15th total of 149,900 shares. Based on an average daily volume of 568,039 shares, the short-interest ratio is currently 0.1 days. Approximately 4.2% of the shares of the company are short sold.

Analysts Set New Price Targets

GMEX has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Fitell in a research report on Friday, July 24th. Wall Street Zen cut Fitell from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. 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 Stock Down 10.3%

NASDAQ GMEX traded down $0.20 during trading on Friday, hitting $1.74. 144,576 shares of the company’s stock traded hands, compared to its average volume of 474,290. Fitell has a 12-month low of $1.68 and a 12-month high of $23,178.96. The business’s 50 day simple moving average is $6.73.

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.