Gulf Resources, Inc. (NASDAQ:GURE) Shares Shorted: Short Interest Down 45.7% in October

Gulf Resources, Inc. (NASDAQ:GURE) saw a large 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. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 94,091 shares, the short-interest ratio is presently 0.1 days.

Gulf Resources Stock Performance

Shares of NASDAQ GURE traded down $0.10 during midday trading on Monday, hitting $2.85. 5,415 shares of the company’s stock traded hands, compared to its average volume of 79,547. The firm has a fifty day moving average of $3.20 and a 200 day moving average of $4.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.58 and a current ratio of 2.65. The stock has a market capitalization of $5.16 million, a price-to-earnings ratio of -0.10 and a beta of -0.02. Gulf Resources has a 1 year low of $2.04 and a 1 year high of $11.83.

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

Wall Street Analysts Forecast Growth

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

About Gulf Resources

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.