Gulf Resources (NASDAQ:GURE) Shares Cross Above 200 Day Moving Average of $1.46

Gulf Resources, Inc. (NASDAQ:GURE)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.46 and traded as high as $1.54. Gulf Resources shares last traded at $1.54, with a volume of 41,149 shares changing hands.

Gulf Resources Price Performance

The company has a market cap of $16.07 million, a P/E ratio of -3.02 and a beta of 0.25. The stock has a 50-day moving average of $1.37 and a 200 day moving average of $1.46.

Hedge Funds Weigh In On Gulf Resources

An institutional investor recently bought a new position in Gulf Resources stock. Cable Hill Partners LLC purchased a new position in shares of Gulf Resources, Inc. (NASDAQ:GURE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 63,000 shares of the specialty chemicals company’s stock, valued at approximately $118,000. Cable Hill Partners LLC owned approximately 0.60% of Gulf Resources at the end of the most recent quarter. Institutional investors and hedge funds own 3.28% of the company’s stock.

About Gulf Resources

Gulf Resources, Inc, through its subsidiaries, manufactures and trades bromine and crude salt, chemical products, and natural gas in the People's Republic of China. The company operates through four segments: Bromine, Crude salt, Chemical products, and Natural gas segments. It also provides bromine for use in bromine compounds, intermediates in organic synthesis, brominated flame retardants, fumigants, water purification compounds, dyes, medicines, and disinfectants.