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

Gelteq Limited (NASDAQ:GELS) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 314,643 shares, a drop of 39.6% from the September 30th total of 520,734 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 64,983 shares, the days-to-cover ratio is currently 4.8 days.

Gelteq Price Performance

GELS stock opened at $0.49 on Friday. Gelteq has a one year low of $0.39 and a one year high of $2.01. The firm has a 50-day simple moving average of $0.56 and a two-hundred day simple moving average of $0.66.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Gelteq in a report on Tuesday, September 22nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, Gelteq presently has a consensus rating of “Sell”.

About Gelteq

Gelteq Limited is an Australia-based health and wellness company that develops oral delivery products using proprietary gel-based technology. Its platform is designed to deliver active ingredients through convenient oral formats and may be used in nutraceutical, pharmaceutical and consumer health applications.

The company focuses on the development and commercialization of products containing vitamins, supplements and other bioactive ingredients. Gelteq also works with partners and customers on product formulation and development, with the aim of improving convenience, taste and the delivery of active compounds compared with traditional dosage forms.

Gelteq was established in Australia and serves the health and wellness market through its product-development and delivery technology activities.