Gelteq Limited (NASDAQ:GELS) Stock Short Interest Climbs 138.2%

Gelteq Limited (NASDAQ:GELS) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 520,734 shares, a growth of 138.2% from the September 15th total of 218,607 shares. Based on an average trading volume of 3,172,905 shares, the days-to-cover ratio is presently 0.2 days. Currently, 4.9% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Gelteq in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has an average rating of “Sell”.

Gelteq Price Performance

Shares of NASDAQ GELS traded down $0.03 during trading hours on Wednesday, hitting $0.45. 38,212 shares of the stock were exchanged, compared to its average volume of 1,783,659. Gelteq has a one year low of $0.39 and a one year high of $2.01. The company’s 50 day moving average is $0.60 and its 200 day moving average is $0.62.

Gelteq Company Profile

Gelteq Limited is an Australian health and wellness company that develops oral delivery products using its proprietary gel-based technology. The platform is designed to deliver active ingredients in an easy-to-consume format and may be used for nutraceutical, pharmaceutical, and other health-related applications.

The company works with brand owners and other commercial partners to formulate and manufacture products such as dietary supplements, vitamins, minerals, and other functional health products.