Fitell Corp (NASDAQ:GMEX) Short Interest Up 131.1% in May

Fitell Corp (NASDAQ:GMEX) saw a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 130,859 shares, a growth of 131.1% from the May 14th total of 56,627 shares. Based on an average trading volume of 4,740,094 shares, the short-interest ratio is presently 0.0 days. Approximately 15.0% of the shares of the company are short sold.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GMEX shares. Wall Street Zen upgraded shares of Fitell to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings initiated coverage on shares of Fitell in a research report on Monday, April 27th. They set a “sell (d-)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Fitell Stock Down 4.7%

Shares of NASDAQ GMEX opened at $0.79 on Friday. Fitell has a twelve month low of $0.71 and a twelve month high of $1,075.20. The company has a debt-to-equity ratio of 3.78, a current ratio of 4.88 and a quick ratio of 3.98.

Fitell (NASDAQ:GMEX) last issued its quarterly earnings data on Friday, April 17th. The company reported ($59.46) EPS for the quarter. The company had revenue of $1.37 million for the quarter.

About Fitell

Founded in 2007 and headquartered in New South Wales, Australia, GD Wellness Pty Ltd (“GD”) is a wholly owned subsidiary of Fitell Corporation, a Cayman Islands company (together with its subsidiaries, “Fitell,”). We are an online retailer of gym and fitness equipment both under our proprietary brands and other brand names. Fitell’s mission is to build an ecosystem with a whole fitness and wellness experience powered by technology to our customers. GD has served over 100,000 customers with large portions of sales from repeat customers over the years, which we believe to be a testament of our product quality and brand loyalty.