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

Fitell Corp (NASDAQ:GMEX)’s stock is scheduled to reverse split on the morning of Monday, September 28th. The 1-9 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, September 27th.

Fitell Trading Down 9.6%

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GMEX shares. Wall Street Zen cut Fitell from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fitell in a report on Friday, July 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently 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.