NEW YORK ( TheStreet) -- Gulf Resources (Nasdaq: GFRE) is trading at unusually high volume Wednesday with 5.2 million shares changing hands. It is currently at four times its average daily volume and trading up 19 cents (+4.5%) at $4.37 as of 3:01 p.m. ET. Gulf has a market cap of $105.2 million and is part of the basic materials sector and chemicals industry. Shares are down 60.9% year to date as of the close of trading on Tuesday. 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 1.8, below the average chemicals industry P/E ratio of two and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Gulf as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and robust revenue growth. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full Gulf Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.
Shares of Gulf Resources (Nasdaq:GFRE) have taken a tremendous swing upward. The stock is trading at $3.47 as of 3:51 p.m. ET, 20.1% above Monday's closing price of $2.89. Volume is at one million, 0.6 times the daily average of 1.7 million.
Shares of Gulf Resources (Nasdaq:GFRE) were gapping up Tuesday morning with an open price 22.4% higher than Monday's closing price. The stock closed at $3.03 yesterday and opened today's trading at $3.71.