Fitell Corp (NASDAQ:GMEX) Sees Large Decrease in Short Interest

Fitell Corp (NASDAQ:GMEX) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 57,612 shares, a decline of 46.7% from the July 15th total of 108,098 shares. Approximately 6.4% of the company’s stock are short sold. Based on an average daily trading volume, of 2,806,224 shares, the short-interest ratio is presently 0.0 days.

Fitell Price Performance

Shares of NASDAQ GMEX traded down $0.07 during trading on Tuesday, reaching $1.14. The stock had a trading volume of 1,226,884 shares, compared to its average volume of 593,764. 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 has a one year low of $0.99 and a one year high of $7,958.21. The stock has a 50 day simple moving average of $3.21.

Wall Street Analyst Weigh In

GMEX has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fitell in a research note on Friday, July 24th. Wall Street Zen cut shares of Fitell from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average 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.