Gulf Resources (NASDAQ:GURE) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Gulf Resources, Inc. (NASDAQ:GURE)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.27 and traded as high as $5.75. Gulf Resources shares last traded at $5.71, with a volume of 1,793 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Gulf Resources in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Gulf Resources presently has a consensus rating of “Sell”.

Gulf Resources Price Performance

The stock has a market capitalization of $8.79 million, a P/E ratio of -0.12 and a beta of 0.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.89 and a current ratio of 0.92. The firm has a 50-day moving average price of $4.45 and a 200 day moving average price of $5.27.

Institutional Investors Weigh In On Gulf Resources

A hedge fund recently raised its stake in Gulf Resources stock. Citadel Advisors LLC increased its holdings in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 112,944 shares of the specialty chemicals company’s stock after purchasing an additional 28,020 shares during the period. Citadel Advisors LLC owned approximately 8.46% of Gulf Resources worth $59,000 as of its most recent SEC filing. 3.28% of the stock is currently owned by institutional investors and hedge funds.

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.