Gelteq Limited (NASDAQ:GELS) Sees Large Decrease in Short Interest

Gelteq Limited (NASDAQ:GELS) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totaling 37,312 shares, a drop of 34.3% from the April 15th total of 56,786 shares. Based on an average daily trading volume, of 12,987 shares, the days-to-cover ratio is presently 2.9 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Trading of Gelteq

An institutional investor recently bought a new position in Gelteq stock. Susquehanna International Group LLP bought a new position in Gelteq Limited (NASDAQ:GELS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 41,550 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned approximately 0.44% of Gelteq at the end of the most recent reporting period.

Gelteq Trading Down 0.2%

Shares of Gelteq stock opened at $0.40 on Tuesday. Gelteq has a 12-month low of $0.39 and a 12-month high of $3.51. The company has a 50-day simple moving average of $0.67 and a 200 day simple moving average of $0.84.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Gelteq from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Gelteq Company Profile

Gelteq Inc is a biotechnology company which specializes in the formulation, development and manufacturing of ingestible gel platform designed for nutrient and drug delivery. The Company is focused on advancing and commercializing its delivery solutions within core verticals pharmaceuticals, over-the-counter medications, nutraceuticals, animal medications and sports nutrition. Gelteq Inc is based in NEW YORK.