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

Gelteq Limited (NASDAQ:GELS) was the target of a significant decline in short interest during the month of 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. Currently, 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 54,978 shares, the short-interest ratio is currently 1.4 days.

Gelteq Trading Up 10.8%

GELS stock traded up $0.13 during midday trading on Tuesday, reaching $1.29. 1,832,814 shares of the company were exchanged, compared to its average volume of 2,525,625. Gelteq has a one year low of $0.39 and a one year high of $2.02. The business has a 50-day moving average price of $0.60 and a two-hundred day moving average price of $0.78.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Gelteq from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company 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.