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

Gelteq Limited (NASDAQ:GELS) was the target of a significant decline in short interest in May. As of May 29th, there was short interest totaling 77,097 shares, a decline of 36.3% from the May 14th total of 120,948 shares. Based on an average daily trading volume, of 54,978 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.7% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Gelteq from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Gelteq currently has a consensus rating of “Sell”.

Gelteq Trading Down 10.2%

Shares of GELS stock traded down $0.13 during trading hours on Wednesday, hitting $1.11. 665,729 shares of the company’s stock were exchanged, compared to its average volume of 2,512,198. Gelteq has a 12-month low of $0.39 and a 12-month high of $2.02. The business’s 50 day simple moving average is $0.61 and its 200-day simple moving average is $0.78.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Gelteq stock. Susquehanna International Group LLP bought a new stake in Gelteq Limited (NASDAQ:GELS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 41,550 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned about 0.44% of Gelteq at the end of the most recent quarter.

About Gelteq

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.