Gulf Resources, Inc. (NASDAQ:GURE) Stock Short Interest Report for October

Gulf Resources, Inc. (NASDAQ:GURE) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totaling 5,273 shares, a decline of 45.7% from the September 30th total of 9,717 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average trading volume of 94,091 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Gulf Resources Stock Performance

Shares of NASDAQ GURE traded down $0.14 during midday trading on Friday, reaching $2.95. The company’s stock had a trading volume of 3,948 shares, compared to its average volume of 72,646. Gulf Resources has a 12-month low of $2.04 and a 12-month high of $11.83. The firm has a 50 day moving average price of $3.21 and a 200-day moving average price of $4.05. The stock has a market capitalization of $5.34 million, a P/E ratio of -0.10 and a beta of -0.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.65 and a quick ratio of 2.58.

Gulf Resources (NASDAQ:GURE) last posted its quarterly earnings results on Wednesday, September 30th. The specialty chemicals company reported $0.64 earnings per share for the quarter. Gulf Resources had a negative net margin of 134.41% and a negative return on equity of 8.95%. The company had revenue of $12.89 million during the quarter.

Gulf Resources Company Profile

Gulf Resources, Inc is a China-based manufacturer of bromine, crude salt and specialty chemical products. The company’s bromine products serve as raw materials for applications including flame retardants, oilfield completion fluids, pharmaceuticals, biocides and water-treatment products.

Through its operating subsidiaries, Gulf Resources has historically conducted production activities in Shouguang City, Shandong Province, an area known for bromine and salt resources. Its specialty chemical operations produce bromine-based and other industrial chemicals for customers in China and related markets.

The company has also reported involvement in well-drilling services and related activities.