Gulf Resources (NASDAQ:GURE) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Gulf Resources, Inc. (NASDAQ:GURE) shares passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $3.98 and traded as low as $2.80. Gulf Resources shares last traded at $3.09, with a volume of 19,675 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 28th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Gulf Resources presently has a consensus rating of “Sell”.

Gulf Resources Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.65 and a quick ratio of 2.58. The stock has a 50 day simple moving average of $3.26 and a two-hundred day simple moving average of $3.97. The company has a market cap of $5.23 million, a price-to-earnings ratio of -0.10 and a beta of -0.02.

Gulf Resources (NASDAQ:GURE) last issued its earnings results on Wednesday, September 30th. The specialty chemicals company reported $0.64 earnings per share (EPS) for the quarter. The business had revenue of $12.89 million during the quarter. Gulf Resources had a negative return on equity of 8.95% and a negative net margin of 134.41%.

About Gulf Resources

Gulf Resources, Inc is a China-based chemical manufacturing company that produces and sells bromine, crude salt and specialty chemical products. Its operations are primarily conducted through subsidiaries located in Shouguang, Shandong Province, an area known for chemical production and brine resources.

Bromine is used in a range of industrial applications, including flame retardants, water-treatment compounds, pharmaceuticals, agricultural chemicals, dyes and oil- and gas-field fluids.