Fitell Corp (NASDAQ:GMEX) Short Interest Down 32.6% in August

Fitell Corp (NASDAQ:GMEX) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 38,837 shares, a decrease of 32.6% from the July 30th total of 57,612 shares. Based on an average daily volume of 605,555 shares, the days-to-cover ratio is currently 0.1 days. Currently, 4.3% of the shares of the company are short sold.

Fitell Trading Down 6.8%

Shares of Fitell stock opened at $0.79 on Thursday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 3.98 and a current ratio of 4.88. The firm has a fifty day moving average price of $1.81. Fitell has a twelve month low of $0.78 and a twelve month high of $7,958.21.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GMEX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fitell in a report on Friday, July 24th. Wall Street Zen cut shares of Fitell from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Fitell presently has a consensus rating of “Sell”.

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.