Gulf Resources, Inc. (NASDAQ:GURE) Stock Short Interest Report for October

Gulf Resources, Inc. (NASDAQ:GURE) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totaling 5,273 shares, a drop of 45.7% from the September 30th total of 9,717 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 94,091 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Gulf Resources Stock Performance

Shares of Gulf Resources stock traded down $0.14 during trading hours on Friday, reaching $2.95. The company had a trading volume of 3,948 shares, compared to its average volume of 72,646. The firm has a market cap of $5.34 million, a PE ratio of -0.10 and a beta of -0.02. Gulf Resources has a one year low of $2.04 and a one year high of $11.83. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.65 and a quick ratio of 2.58. The business has a fifty day simple moving average of $3.21 and a 200 day simple moving average of $4.05.

Gulf Resources (NASDAQ:GURE) last released its quarterly earnings data on Wednesday, September 30th. The specialty chemicals company reported $0.64 earnings per share (EPS) for the quarter. The company had revenue of $12.89 million for the quarter. Gulf Resources had a negative return on equity of 8.95% and a negative net margin of 134.41%.

About Gulf Resources

Gulf Resources, Inc is a China-based manufacturer of bromine, crude salt and specialty chemical products. The company’s bromine products serve as raw materials for applications including flame retardants, oilfield completion fluids, pharmaceuticals, biocides and water-treatment products.

Through its operating subsidiaries, Gulf Resources has historically conducted production activities in Shouguang City, Shandong Province, an area known for bromine and salt resources. Its specialty chemical operations produce bromine-based and other industrial chemicals for customers in China and related markets.

The company has also reported involvement in well-drilling services and related activities.