Gulf Resources (NASDAQ:GURE) Shares Set to Reverse Split on Monday, October 27th

Gulf Resources, Inc. (NASDAQ:GURE) shares are going to reverse split on the morning of Monday, October 27th. The 1-10 reverse split was announced on Wednesday, October 22nd. The number of shares owned by shareholders will be adjusted after the market closes on Friday, October 24th.

Gulf Resources Stock Performance

Shares of NASDAQ:GURE opened at $0.52 on Thursday. The company has a market capitalization of $6.99 million, a price-to-earnings ratio of -0.21 and a beta of 0.29. Gulf Resources has a 12 month low of $0.47 and a 12 month high of $1.47. The firm’s 50-day moving average is $0.66 and its 200 day moving average is $0.67. The company has a current ratio of 1.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.01.

Gulf Resources (NASDAQ:GURE) last issued its quarterly earnings results on Wednesday, August 13th. The specialty chemicals company reported ($0.06) EPS for the quarter. The firm had revenue of $8.34 million for the quarter. Gulf Resources had a negative net margin of 195.79% and a negative return on equity of 18.32%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Gulf Resources in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Gulf Resources Company Profile

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.