Gelteq Limited (NASDAQ:GELS) Short Interest Down 62.6% in August

Gelteq Limited (NASDAQ:GELSGet Free Report) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 12,658 shares, a drop of 62.6% from the July 30th total of 33,877 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 36,025 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On Gelteq

An institutional investor recently bought a new stake in Gelteq stock. Susquehanna International Group LLP acquired a new stake in shares of Gelteq Limited (NASDAQ:GELSFree Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 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.

Gelteq Stock Performance

GELS stock traded down $0.01 during midday trading on Friday, hitting $0.56. The company had a trading volume of 11,509 shares, compared to its average volume of 1,780,342. Gelteq has a 52 week low of $0.39 and a 52 week high of $2.02. The stock’s 50 day moving average price is $0.60 and its 200 day moving average price is $0.65.

Gelteq (NASDAQ:GELSGet Free Report) last issued its earnings results on Tuesday, June 30th. The company reported ($0.12) earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

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

Read Our Latest Research Report on Gelteq

Gelteq Company Profile

(Get Free Report)

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.

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