Gulf Resources (NASDAQ:GURE) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Gulf Resources, Inc. (NASDAQ:GURE) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.53 and traded as low as $3.53. Gulf Resources shares last traded at $3.53, with a volume of 800 shares.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Gulf Resources Trading Down 9.2%

The company has a 50 day moving average of $3.92 and a 200-day moving average of $4.53. The firm has a market capitalization of $5.30 million, a P/E ratio of -0.07 and a beta of -0.13.

Hedge Funds Weigh In On Gulf Resources

An institutional investor recently raised its stake in Gulf Resources stock. Citadel Advisors LLC increased its holdings in shares of Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,944 shares of the specialty chemicals company’s stock after acquiring an additional 28,020 shares during the quarter. Citadel Advisors LLC owned about 8.46% of Gulf Resources worth $59,000 as of its most recent filing with the SEC. 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.