Gulf Resources, Inc. (NASDAQ:GURE) Director Ming Yang Acquires 661,648 Shares

Gulf Resources, Inc. (NASDAQ:GURE) Director Ming Yang purchased 661,648 shares of Gulf Resources stock in a transaction that occurred on Thursday, September 5th. The shares were bought at an average price of $0.72 per share, for a total transaction of $476,386.56. Following the completion of the transaction, the director now owns 3,173,848 shares in the company, valued at $2,285,170.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NASDAQ GURE traded up $0.02 on Friday, hitting $0.76. The company’s stock had a trading volume of 16,073 shares, compared to its average volume of 36,538. Gulf Resources, Inc. has a 52-week low of $0.65 and a 52-week high of $1.48. The company has a current ratio of 5.30, a quick ratio of 5.28 and a debt-to-equity ratio of 0.03. The company’s 50-day simple moving average is $0.82 and its 200 day simple moving average is $1.04.

Gulf Resources (NASDAQ:GURE) last released its quarterly earnings data on Wednesday, August 14th. The specialty chemicals company reported ($0.02) earnings per share for the quarter. The business had revenue of $6.01 million during the quarter.

A hedge fund recently raised its stake in Gulf Resources stock. Citadel Advisors LLC increased its position in Gulf Resources, Inc. (NASDAQ:GURE) by 253.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,060 shares of the specialty chemicals company’s stock after purchasing an additional 30,155 shares during the quarter. Citadel Advisors LLC owned approximately 0.09% of Gulf Resources worth $41,000 as of its most recent filing with the Securities & Exchange Commission. 6.87% of the stock is owned by institutional investors and hedge funds.

Gulf Resources Company Profile

Gulf Resources, Inc, through its subsidiaries, manufactures and trades in bromine, crude salt, chemical products, and natural gas in the People's Republic of China. It provides bromine for use in brominated flame retardants, fumigants, water purification compounds, dyes, medicines, and disinfectants.

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