Gulf Resources, Inc. (NASDAQ:GURE) Short Interest Down 51.9% in June

Gulf Resources, Inc. (NASDAQ:GURE) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 969 shares, a decline of 51.9% from the June 15th total of 2,013 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 22,336 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Gulf Resources from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Gulf Resources

An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC lifted its stake in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 112,944 shares of the specialty chemicals company’s stock after purchasing 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 quarter. Hedge funds and other institutional investors own 3.28% of the company’s stock.

Gulf Resources Trading Up 3.9%

Gulf Resources stock traded up $0.14 during midday trading on Thursday, reaching $3.72. 636 shares of the stock traded hands, compared to its average volume of 32,583. The firm has a market cap of $5.73 million, a PE ratio of -0.08 and a beta of -0.13. The company has a 50-day simple moving average of $3.92 and a two-hundred day simple moving average of $4.51. Gulf Resources has a 12-month low of $2.04 and a 12-month high of $11.83.

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.