Fitell Corp (NASDAQ:GMEX) Stock Short Interest Drops 79.0%

Fitell Corp (NASDAQ:GMEX) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 31,421 shares, a decline of 79.0% from the September 15th total of 149,900 shares. Based on an average daily volume of 568,039 shares, the short-interest ratio is currently 0.1 days. Currently, 4.2% of the shares of the stock are short sold.

Fitell Stock Performance

Shares of Fitell stock traded down $0.03 on Monday, reaching $1.71. The company had a trading volume of 70,481 shares, compared to its average volume of 477,932. The firm’s 50-day simple moving average is $6.52. Fitell has a 1 year low of $1.60 and a 1 year high of $22,225.94.

Wall Street Analysts Forecast Growth

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