Gulf Resources, Inc. (NASDAQ:GURE) Sees Large Increase in Short Interest

Gulf Resources, Inc. (NASDAQ:GURE – Get Rating) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 9,200 shares, an increase of 300.0% from the April 30th total of 2,300 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 19,100 shares, the short-interest ratio is presently 0.5 days.

Gulf Resources Price Performance

Shares of NASDAQ:GURE traded up $0.04 during trading on Friday, reaching $2.97. The stock had a trading volume of 24,116 shares, compared to its average volume of 16,005. Gulf Resources has a 52 week low of $2.50 and a 52 week high of $4.95. The business’s 50-day moving average price is $2.80 and its 200 day moving average price is $3.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.02 and a quick ratio of 10.97. The stock has a market capitalization of $30.98 million, a PE ratio of 3.09 and a beta of 0.50.

Gulf Resources (NASDAQ:GURE – Get Rating) last posted its earnings results on Friday, March 31st. The specialty chemicals company reported ($0.22) earnings per share (EPS) for the quarter. Gulf Resources had a net margin of 14.48% and a return on equity of 3.53%. The firm had revenue of $18.59 million during the quarter.

Institutional Trading of Gulf Resources

An institutional investor recently bought a new position in Gulf Resources stock. Millennium Management LLC bought a new position in shares of Gulf Resources, Inc. (NASDAQ:GURE – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,583 shares of the specialty chemicals company’s stock, valued at approximately $64,000. Millennium Management LLC owned 0.20% of Gulf Resources as of its most recent filing with the Securities and Exchange Commission. 4.15% of the stock is currently owned by institutional investors and hedge funds.

Gulf Resources Company Profile

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Gulf Resources, Inc is a holding company that engages in the manufacture of chemical products. It operates through the following segments: Bromine, Crude Salt, Chemical Products, and Natural Gas. It produces and trades bromine, crude salt and natural gas, and manufactures and sells chemical products used in oil and gas field exploration, oil and gas distribution, and oil field drilling.