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

Gelteq Limited (NASDAQ:GELS) was the target of a large increase in short interest in May. As of May 15th, there was short interest totaling 120,948 shares, an increase of 224.2% from the April 30th total of 37,312 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily volume of 274,919 shares, the days-to-cover ratio is currently 0.4 days.

Gelteq Stock Up 8.7%

NASDAQ:GELS opened at $0.49 on Friday. The business’s 50 day moving average is $0.61 and its two-hundred day moving average is $0.80. Gelteq has a 52 week low of $0.39 and a 52 week high of $3.51.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Gelteq from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Trading of Gelteq

A hedge fund recently bought a new stake in Gelteq stock. Susquehanna International Group LLP bought a new stake in shares of Gelteq Limited (NASDAQ:GELS) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 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 reporting period.

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.