Gulf Resources (NASDAQ:GURE) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Gulf Resources, Inc. (NASDAQ:GURE) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.53 and traded as low as $3.53. Gulf Resources shares last traded at $3.53, with a volume of 800 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Gulf Resources Stock Down 6.9%

The company has a market cap of $5.44 million, a price-to-earnings ratio of -0.07 and a beta of -0.13. The company’s fifty day moving average price is $3.91 and its two-hundred day moving average price is $4.53.

Institutional Trading of Gulf Resources

A hedge fund recently raised its position in Gulf Resources stock. Citadel Advisors LLC grew its position in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,944 shares of the specialty chemicals company’s stock after purchasing an additional 28,020 shares during the period. Citadel Advisors LLC owned approximately 8.46% of Gulf Resources worth $59,000 at the end of the most recent quarter. 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.