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NEW YORK ( TheStreet) -- Gulf Resources (Nasdaq: GFRE) hit a new 52-week low Monday as it is currently trading at $5.39, below its previous 52-week high of $12 with 373,882 shares traded as of 10:51 a.m. ET. Average volume has been 476,400 shares over the past 30 days. Gulf has a market cap of $208.4 million and is part of the basic materials sector and chemicals industry. Shares are down 47% year to date as of the close of trading on Friday. Gulf Resources, Inc. and its subsidiaries manufacture and trade in bromine and crude salt, as well as manufacture chemical products for use in the oil industry and paper manufacturing industry in the People's Republic of China. The company has a P/E ratio of four, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 16.8.