Gelteq Limited (NASDAQ:GELS) Shares Shorted: Short Interest Up 1,305.4% in September

Gelteq Limited (NASDAQ:GELS) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 218,607 shares, an increase of 1,305.4% from the August 31st total of 15,555 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average trading volume of 14,143,777 shares, the days-to-cover ratio is currently 0.0 days.

Analysts Set New Price Targets

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

Gelteq Trading Down 8.5%

NASDAQ GELS traded down $0.05 during trading hours on Thursday, reaching $0.55. 284,238 shares of the company’s stock traded hands, compared to its average volume of 8,951,494. Gelteq has a 52-week low of $0.39 and a 52-week high of $2.01. The firm has a 50-day simple moving average of $0.62 and a 200 day simple moving average of $0.64.

Gelteq (NASDAQ:GELS) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($0.12) earnings per share for the quarter.

About Gelteq

Gelteq Limited is an Australia-based life sciences company that develops oral delivery solutions using proprietary gel technology. Its platform is designed to deliver active ingredients in formats intended to improve convenience, taste, stability and absorption compared with some traditional tablets, capsules and powders.

The company focuses on applications across the nutraceutical, pharmaceutical, consumer health and wellness sectors. Its products and development programs include gel-based formulations for vitamins, supplements and other active ingredients, with the technology intended to support a range of ingredients and delivery requirements.

Gelteq serves customers and commercialization partners from its Australian base and is focused on expanding the use of its delivery platform in international markets.