Fitell Corp (NASDAQ:GMEX) Short Interest Update

Fitell Corp (NASDAQ:GMEX) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 149,900 shares, a growth of 155.9% from the August 31st total of 58,589 shares. Currently, 16.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,142,494 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GMEX. Wall Street Zen cut shares of 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 research note on Friday, July 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Fitell Price Performance

GMEX stock traded down $0.02 during trading on Friday, reaching $0.37. 859,986 shares of the company were exchanged, compared to its average volume of 4,202,828. The company has a debt-to-equity ratio of 3.78, a current ratio of 4.88 and a quick ratio of 3.98. The business’s 50-day moving average is $0.98. Fitell has a twelve month low of $0.35 and a twelve month high of $3,150.00.

Shares of Fitell are set to reverse split before the market opens on Monday, September 28th. The 1-9 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, September 27th.

Fitell Company Profile

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.