Gulf Resources, Inc. (NASDAQ:GURE) Short Interest Update

Gulf Resources, Inc. (NASDAQ:GURE) was the target of a large drop in short interest in July. As of July 31st, there was short interest totaling 566 shares, a drop of 49.1% from the July 15th total of 1,111 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,246 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Gulf Resources

An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC grew its stake in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 approximately 8.46% of Gulf Resources worth $59,000 at the end of the most recent reporting period. 3.28% of the stock is owned by hedge funds and other institutional investors.

Gulf Resources Stock Performance

Shares of NASDAQ:GURE traded down $0.55 on Friday, reaching $3.01. The company’s stock had a trading volume of 7,574 shares, compared to its average volume of 8,495. Gulf Resources has a 52-week low of $2.04 and a 52-week high of $11.83. The company has a market cap of $4.64 million, a P/E ratio of -0.06 and a beta of -0.10. The company has a 50-day simple moving average of $3.55 and a 200 day simple moving average of $4.40.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Gulf Resources Company Profile

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.