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

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

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Gulf Resources stock. Citadel Advisors LLC raised its position in shares of Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% in the third quarter, according to the company in its most recent Form 13F 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 period. Citadel Advisors LLC owned approximately 8.46% of Gulf Resources worth $59,000 at the end of the most recent reporting period. 3.28% of the stock is owned by institutional investors and hedge funds.

Gulf Resources Stock Performance

Gulf Resources stock opened at $3.79 on Tuesday. Gulf Resources has a 1 year low of $2.04 and a 1 year high of $11.83. The firm has a 50 day moving average price of $3.93 and a 200 day moving average price of $4.51. The company has a market cap of $5.84 million, a price-to-earnings ratio of -0.08 and a beta of -0.13.

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 research report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

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.