Shares in the Nasdaq listed penny stock of Gulf Resources Inc. (GURE) found itself ending Monday’s session fifth among the big boards price percentage gainers. GURE stock traded as high as 1.63 in after-hours trading, half way to its 52 week high set back on February 21: 3.25. Ever since the Company’s annual shareholders meeting held last week on October 16, the volume spikes are the highest the bromine and crude salt products manufacturer has experienced since the 52 week high was set 8 months ago.
GURE is an must watch Nasdaq listed penny stock with a clear focus on their upcoming earnings.
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GURE Stock Chart
Market Cap: 54.26M
Close: 1.62, up 0.26 (19.12%)
Est. Dollar Volume: $1,648,977
Average Trade Size: 603
Price/Sales (ttm): 0.38
Price/Book (mrq): 0.19
Book Value Per Share (mrq): 7.27
Issued and Outstanding: 34,745,342
% Held by Insiders: 39.03%
% Held by Institutions: 7.50%
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Q2 financials were not exactly a ray of sunshine for the Chinese specialty chemical products focused Company. Gulf Resources, for the three months ended June 30, 2012, reported:
- Revenue of $31.3 million, a year-over-year decrease of 39.0%
- Gross profit of $9.9 million, a year-over-year decrease of 62.4%
- Gross margin decreased to 31.6 % compared to 51.3% in Q2 of 2011
- Income from operations was $7.6 million as compared to $13.4 million in Q2 of 2011
- Operating margin was 24.3% compared to 26.1% for Q2 of 2011
- Net income was $5.7 million or $0.16 per basic and diluted share, versus $10.0 million, or $0.29 per basic and diluted share a year ago, respectively
- Cash totaled $72.04 million as of June 30, 2012
- 40.63% above the 50-day moving average: 1.15;
- 13.91% above the 200-day moving average: 1.42;
- -50.15% below the 52 week high: 3.25; and
- 65.31% above the 52 week low: 0.98
About GURE Stock
Gulf Resources, Inc. manufactures and trades bromine and crude salt through its wholly-owned subsidiary, Shouguang City Haoyuan Chemical Company Limited , and manufactures chemical products for use in the oil industry and paper manufacturing industry through its wholly-owned subsidiary, Shouguang Yuxin Chemical Industry Co., Limited in The People’s Republic of China.
Click here to view the SEC filings for GURE.
Bottom Line: Things may have slown down in China, but the penny stock of Gulf Resources (GURE) received a swift kick in the “pigu” since closing its annual shareholders meeting. Add GURE stock to your list of big board long plays to watch since its obvious that the activity following immediately after the Company held its annual meeting has raised some eyebrows that were willing to pay 50% plus for the stock than it was prior to October 16th.
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