Gulf Resources (NASDAQ:GURE) Releases Quarterly Earnings Results

Gulf Resources (NASDAQ:GURE) released its earnings results on Friday. The specialty chemicals company reported ($2.48) earnings per share (EPS) for the quarter, FiscalAI reports. Gulf Resources had a negative net margin of 172.79% and a negative return on equity of 9.94%.

Gulf Resources Stock Up 14.0%

NASDAQ:GURE traded up $0.48 on Friday, hitting $3.90. The stock had a trading volume of 8,502 shares, compared to its average volume of 28,372. The business’s fifty day moving average is $3.42 and its 200 day moving average is $4.31. The company has a market cap of $7.06 million, a PE ratio of -0.12 and a beta of -0.10. The company has a quick ratio of 2.91, a current ratio of 2.98 and a debt-to-equity ratio of 0.07. Gulf Resources has a 52 week low of $2.04 and a 52 week high of $11.83.

Hedge Funds Weigh In On Gulf Resources

A hedge fund recently raised its position in Gulf Resources stock. Citadel Advisors LLC increased its position in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter. 3.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Gulf Resources from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 18th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average 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.