Gulf Resources (NASDAQ:GURE) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Gulf Resources, Inc. (NASDAQ:GURE)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.23 and traded as high as $5.57. Gulf Resources shares last traded at $4.61, with a volume of 26,108 shares trading hands.

Analyst Ratings Changes

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

Gulf Resources Stock Performance

The firm’s 50 day simple moving average is $4.53 and its 200-day simple moving average is $5.23. The company has a market capitalization of $7.10 million, a price-to-earnings ratio of -0.10 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.

Institutional Investors Weigh In On Gulf Resources

An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC boosted its holdings in shares of Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 112,944 shares of the specialty chemicals company’s stock after acquiring an additional 28,020 shares during the quarter. Citadel Advisors LLC owned 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.

Gulf Resources Company Profile

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.