Gulf Resources (NASDAQ:GURE) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Gulf Resources, Inc. (NASDAQ:GURE) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.31 and traded as high as $5.84. Gulf Resources shares last traded at $5.67, with a volume of 17,688 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Gulf Resources in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Gulf Resources Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 0.92 and a quick ratio of 0.89. The business has a 50 day moving average price of $4.44 and a 200 day moving average price of $5.31. The stock has a market capitalization of $8.73 million, a PE ratio of -0.12 and a beta of 0.37.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC lifted its position in shares of Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,944 shares of the specialty chemicals company’s stock after acquiring an additional 28,020 shares during the period. Citadel Advisors LLC owned approximately 8.46% of Gulf Resources worth $59,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 3.28% of the company’s stock.

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.