Gulf Resources (NASDAQ:GURE) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Gulf Resources, Inc. (NASDAQ:GURE)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.87 and traded as high as $8.73. Gulf Resources shares last traded at $7.75, with a volume of 43,447 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Gulf Resources in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Gulf Resources Trading Down 1.1%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.89 and a current ratio of 0.92. The company has a 50 day simple moving average of $5.06 and a two-hundred day simple moving average of $4.87. The company has a market cap of $11.94 million, a PE ratio of -0.16 and a beta of 0.13.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC raised its stake in shares of Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,944 shares of the specialty chemicals company’s stock after buying an additional 28,020 shares during the period. Citadel Advisors LLC owned about 8.46% of Gulf Resources worth $59,000 as of its most recent SEC filing. Institutional investors own 3.28% of the company’s stock.

Gulf Resources Company Profile

Gulf Resources, Inc (NASDAQ: GURE) is an industrial mineral exploration and development company focused on phosphate rock and related product development. The company’s primary objective is to advance mineral projects that supply phosphate-based raw materials for agricultural and industrial applications, including production of fertilizers, animal feed supplements and specialty chemical precursors.

Gulf Resources’ flagship asset is its Hamilton County phosphate project in north central Florida, where it holds extensive mineral leases covering phosphate-bearing formations.