Gelteq Limited (NASDAQ:GELS – Get Free Report) was the target of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 12,658 shares, a drop of 62.6% from the July 30th total of 33,877 shares. Based on an average daily trading volume, of 36,025 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the shares of the company are short sold.
Hedge Funds Weigh In On Gelteq
A hedge fund recently bought a new stake in Gelteq stock. Susquehanna International Group LLP purchased a new position in shares of Gelteq Limited (NASDAQ:GELS – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,550 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned approximately 0.44% of Gelteq as of its most recent filing with the Securities and Exchange Commission (SEC).
Analyst Upgrades and Downgrades
Separately, Weiss Ratings downgraded shares of Gelteq from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.
Gelteq Trading Down 2.6%
Gelteq stock traded down $0.01 during mid-day trading on Friday, hitting $0.56. 11,509 shares of the company traded hands, compared to its average volume of 1,780,342. Gelteq has a one year low of $0.39 and a one year high of $2.02. The stock has a fifty day moving average price of $0.60 and a 200-day moving average price of $0.65.
Gelteq (NASDAQ:GELS – Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The company reported ($0.12) earnings per share for the quarter.
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.
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