Fitell Corp (NASDAQ:GMEX) Sees Large Drop in Short Interest

Fitell Corp (NASDAQ:GMEX) was the target of a significant drop in short interest in October. As of October 30th, there was short interest totaling 12,722 shares, a drop of 77.1% from the October 15th total of 55,579 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average trading volume of 1,235,611 shares, the short-interest ratio is presently 0.0 days.

Analyst Ratings Changes

A number of research firms have recently issued reports on GMEX. Wall Street Zen upgraded shares of Fitell from a “strong sell” rating to a “sell” rating in a report on Saturday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fitell in a research note on Monday. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has a consensus rating of “Sell”.

Fitell Stock Up 0.1%

Shares of GMEX opened at $0.48 on Thursday. The company has a current ratio of 10.17, a quick ratio of 9.68 and a debt-to-equity ratio of 1.33. The company’s 50 day moving average is $2.50. Fitell has a 52 week low of $0.41 and a 52 week high of $9,072.00.

Fitell (NASDAQ:GMEX) last released its earnings results on Monday, November 2nd. The company reported ($500.53) earnings per share (EPS) for the quarter. The business had revenue of $1.44 million for the quarter. As a group, equities research analysts anticipate that Fitell will post -18.31 earnings per share for the current year.

About Fitell

Fitell Corporation is an Australia-based fitness equipment retailer and distributor. Through its Gym Direct and related operations, the company offers a range of products for home, commercial and institutional fitness environments, including strength-training equipment, cardio machines, free weights, accessories and gym fit-out solutions. The company serves individual consumers, gyms, personal trainers, sports clubs, schools and other commercial customers through online and business-to-business sales channels.