Fitell (NASDAQ:GMEX) Stock Scheduled to Reverse Split on Monday, September 28th

Fitell Corp (NASDAQ:GMEX) shares are scheduled to reverse split on Monday, September 28th. The 1-9 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, September 27th.

Fitell Price Performance

GMEX stock traded down $0.04 during trading on Thursday, hitting $0.39. The company had a trading volume of 604,112 shares, compared to its average volume of 981,839. The firm’s fifty day moving average is $1.00. The company has a debt-to-equity ratio of 3.78, a current ratio of 4.88 and a quick ratio of 3.98. Fitell has a fifty-two week low of $0.36 and a fifty-two week high of $3,507.84.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings reissued 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 report on Saturday, July 25th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

About Fitell

Fitell Limited is an Australia-based fitness and wellness company that sells exercise equipment, accessories and related products through online and retail channels. Its product range includes strength-training equipment, free weights, benches, racks, gym accessories and selected cardiovascular products for home users, gyms and other fitness facilities.

The company serves customers primarily in Australia and has developed an e-commerce-led business model supported by product sourcing, fulfillment and retail operations.