Gelteq Limited (NASDAQ:GELS) Short Interest Down 28.2% in March

Gelteq Limited (NASDAQ:GELS) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totaling 72,024 shares, a decline of 28.2% from the March 15th total of 100,277 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,327 shares, the short-interest ratio is presently 7.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Gelteq in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Gelteq currently has an average rating of “Sell”.

Hedge Funds Weigh In On Gelteq

A hedge fund recently bought a new stake in Gelteq stock. Susquehanna International Group LLP bought a new position in shares of Gelteq Limited (NASDAQ:GELS) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 41,550 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned approximately 0.44% of Gelteq at the end of the most recent quarter.

Gelteq Price Performance

NASDAQ:GELS traded up $0.00 on Wednesday, reaching $0.70. The stock had a trading volume of 9,547 shares, compared to its average volume of 21,939. Gelteq has a 1-year low of $0.64 and a 1-year high of $4.11. The stock has a fifty day moving average price of $0.75 and a 200-day moving average price of $0.95.

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.