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

Gulf Resources, Inc. (NASDAQ:GURE) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 6,400 shares, a growth of 45.5% from the July 31st total of 4,400 shares. Based on an average trading volume of 21,500 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the company’s shares are sold short.

In other news, Director Ming Yang bought 661,648 shares of the stock in a transaction dated Thursday, September 5th. The stock was purchased at an average price of $0.72 per share, for a total transaction of $476,386.56. Following the acquisition, the director now owns 3,173,848 shares of the company’s stock, valued at $2,285,170.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Naihui Miao sold 166,230 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $0.72, for a total transaction of $119,685.60. Following the completion of the sale, the chief operating officer now owns 90,575 shares of the company’s stock, valued at approximately $65,214. The disclosure for this sale can be found here. 30.10% of the stock is currently owned by company insiders.

An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC increased its stake in Gulf Resources, Inc. (NASDAQ:GURE) by 253.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,060 shares of the specialty chemicals company’s stock after buying an additional 30,155 shares during the period. Citadel Advisors LLC owned 0.09% of Gulf Resources worth $41,000 as of its most recent SEC filing. Institutional investors own 6.85% of the company’s stock.

Shares of Gulf Resources stock remained flat at $$0.80 during trading on Friday. 4,851 shares of the stock traded hands, compared to its average volume of 37,216. The company has a 50 day simple moving average of $0.81 and a two-hundred day simple moving average of $1.03. The company has a current ratio of 5.30, a quick ratio of 5.28 and a debt-to-equity ratio of 0.03. Gulf Resources has a 12-month low of $0.65 and a 12-month high of $1.48.

Gulf Resources (NASDAQ:GURE) last released its earnings results on Wednesday, August 14th. The specialty chemicals company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $6.01 million for the quarter.

About Gulf Resources

Gulf Resources, Inc, through its subsidiaries, manufactures and trades in bromine, crude salt, chemical products, and natural gas in the People's Republic of China. It provides bromine for use in brominated flame retardants, fumigants, water purification compounds, dyes, medicines, and disinfectants.

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