Gulf Resources (NASDAQ:GURE) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

by · The Markets Daily

Gulf Resources, Inc. (NASDAQ:GURE – Get Free Report)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.09 and traded as high as $11.83. Gulf Resources shares last traded at $8.30, with a volume of 8,829,381 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Gulf Resources in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Gulf Resources has an average rating of “Sell”.

Read Our Latest Stock Analysis on Gulf Resources

Gulf Resources Stock Up 75.1%

The business’s fifty day simple moving average is $4.79 and its two-hundred day simple moving average is $6.09. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Gulf Resources

An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC lifted its holdings in shares of Gulf Resources, Inc. (NASDAQ:GURE – Free Report) by 33.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 112,944 shares of the specialty chemicals company’s stock after acquiring an additional 28,020 shares during the period. Citadel Advisors LLC owned approximately 8.46% of Gulf Resources worth $59,000 as of its most recent filing with the SEC. 3.28% of the stock is owned by institutional investors.

Gulf Resources Company Profile

(Get Free Report)

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.

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