Gelteq Limited (NASDAQ:GELS) Shares Shorted: Short Interest Up 1,305.4% in September

Gelteq Limited (NASDAQ:GELS) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 218,607 shares, a growth of 1,305.4% from the August 31st total of 15,555 shares. Based on an average trading volume of 14,143,777 shares, the short-interest ratio is currently 0.0 days. Approximately 2.0% of the shares of the stock are short sold.

Gelteq Stock Performance

NASDAQ GELS traded down $0.05 during trading on Thursday, hitting $0.55. 284,238 shares of the company’s stock traded hands, compared to its average volume of 8,951,494. The stock has a fifty day moving average of $0.62 and a two-hundred day moving average of $0.64. Gelteq has a 12-month low of $0.39 and a 12-month high of $2.01.

Gelteq (NASDAQ:GELS) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.12) EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Gelteq from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Gelteq Company Profile

Gelteq Limited is an Australia-based life sciences company that develops oral delivery solutions using proprietary gel technology. Its platform is designed to deliver active ingredients in formats intended to improve convenience, taste, stability and absorption compared with some traditional tablets, capsules and powders.

The company focuses on applications across the nutraceutical, pharmaceutical, consumer health and wellness sectors. Its products and development programs include gel-based formulations for vitamins, supplements and other active ingredients, with the technology intended to support a range of ingredients and delivery requirements.

Gelteq serves customers and commercialization partners from its Australian base and is focused on expanding the use of its delivery platform in international markets.