The stock of Gulf Resources, Inc. (NASDAQ:GURE) hit a new 52-week high and has $4.03 target or 61.00% above today’s $2.50 share price. The 9 months bullish chart indicates low risk for the $132.71M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $4.03 price target is reached, the company will be worth $80.95 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 291,617 shares traded hands or 198.11% up from the average. Gulf Resources, Inc. (NASDAQ:GURE) has risen 62.18% since April 15, 2016 and is uptrending. It has outperformed by 57.56% the S&P500.
According to Zacks Investment Research, “GULF RESOURCES, Inc. operates through two wholly-owned subsidiaries. SCHC is engaged in manufacturing and trading bromine and crude salt in China. Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. SYCI manufactures chemical products utilized in oil & gas field explorations and as papermaking chemical agents.”
More news for Gulf Resources, Inc. (NASDAQ:GURE) were recently published by: Reuters.com, which released: “BRIEF-Gulf Resources Inc – “We believe we will begin production on first w…” on August 10, 2016. Globenewswire.com‘s article titled: “Gulf Resources Announces Sales and Earnings Guidance for 2016” and published on May 18, 2016 is yet another important article.
GURE Company Profile
Gulf Resources, Inc., incorporated on February 28, 1989, is a holding company. The Firm makes and trades bromine and crude salt; makes and sells chemical products used in gas and oil field exploration, gas and oil distribution, oil field drilling, wastewater processing, papermaking chemical agents and inorganic chemicals, and makes and sells materials for human and animal antibiotics. The Firm operates in three divisions: bromine, crude salt and chemical products.
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