Gulf Resources (NASDAQ:GURE) Shares Pass Above 200-Day Moving Average – Should You Sell?

Gulf Resources, Inc. (NASDAQ:GURE)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.82 and traded as high as $5.57. Gulf Resources shares last traded at $5.38, with a volume of 45,923 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Gulf Resources in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Gulf Resources currently has a consensus rating of “Sell”.

Gulf Resources Trading Down 0.7%

The stock has a 50-day simple moving average of $5.37 and a 200 day simple moving average of $4.82. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.29 million, a price-to-earnings ratio of -0.11 and a beta of 0.13.

Institutional Trading of Gulf Resources

An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC grew its stake in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% in the 3rd quarter, according to the company in its most recent 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 quarter. Citadel Advisors LLC owned 8.46% of Gulf Resources worth $59,000 as of its most recent SEC filing. 3.28% of the stock is owned by hedge funds and other institutional investors.

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.