Short Interest in Fitell Corp (NASDAQ:GMEX) Expands By 131.1%

Fitell Corp (NASDAQ:GMEX) was the target of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 130,859 shares, an increase of 131.1% from the May 14th total of 56,627 shares. Approximately 15.0% of the company’s shares are sold short. Based on an average daily volume of 4,740,094 shares, the short-interest ratio is currently 0.0 days.

Analysts Set New Price Targets

GMEX has been the subject of a number of recent analyst reports. Wall Street Zen raised Fitell to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings initiated coverage on Fitell in a research report on Monday, April 27th. They issued a “sell (d-)” rating for the company. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Fitell presently has an average rating of “Sell”.

Fitell Stock Performance

Fitell stock traded down $0.04 during midday trading on Friday, reaching $0.79. The stock had a trading volume of 1,468,313 shares, compared to its average volume of 6,567,023. Fitell has a twelve month low of $0.71 and a twelve month high of $1,075.20. The company has a current ratio of 4.88, a quick ratio of 3.98 and a debt-to-equity ratio of 3.78.

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

About Fitell

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.