Gulf Resources, Inc. (NASDAQ:GURE) Short Interest Down 51.9% in June

Gulf Resources, Inc. (NASDAQ:GURE) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 969 shares, a decline of 51.9% from the June 15th total of 2,013 shares. Based on an average daily volume of 22,336 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the company’s shares are sold short.

Gulf Resources Trading Up 7.1%

Shares of GURE stock opened at $3.79 on Tuesday. The company has a market capitalization of $5.84 million, a PE ratio of -0.08 and a beta of -0.13. The firm has a fifty day simple moving average of $3.93 and a 200-day simple moving average of $4.51. Gulf Resources has a twelve month low of $2.04 and a twelve month high of $11.83.

Hedge Funds Weigh In On Gulf Resources

An institutional investor recently raised its stake in Gulf Resources stock. Citadel Advisors LLC raised its position in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,944 shares of the specialty chemicals company’s stock after buying an additional 28,020 shares during the period. Citadel Advisors LLC owned approximately 8.46% of Gulf Resources worth $59,000 at the end of the most recent quarter. 3.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Gulf Resources presently has a consensus rating of “Sell”.

About Gulf Resources

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.