Fitell Corp (NASDAQ:GMEX) Short Interest Update

Fitell Corp (NASDAQ:GMEX) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totaling 56,627 shares, a decline of 47.6% from the April 30th total of 108,017 shares. Approximately 6.5% of the company’s shares are sold short. Based on an average daily trading volume, of 637,084 shares, the short-interest ratio is presently 0.1 days.

Fitell Stock Down 23.8%

GMEX traded down $0.35 during trading on Monday, hitting $1.12. The company had a trading volume of 2,353,542 shares, compared to its average volume of 817,047. The company has a quick ratio of 3.98, a current ratio of 4.88 and a debt-to-equity ratio of 3.78. Fitell has a 1-year low of $1.07 and a 1-year high of $1,075.20.

Fitell (NASDAQ:GMEX) last posted its quarterly earnings results on Friday, April 17th. The company reported ($59.46) earnings per share (EPS) for the quarter. The company had revenue of $1.37 million for the quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GMEX. Wall Street Zen raised shares of Fitell to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings assumed coverage on shares of Fitell in a research report on Monday, April 27th. They set a “sell (d-)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

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.