Gelteq Limited (NASDAQ:GELS) Stock Short Interest Report for October

Gelteq Limited (NASDAQ:GELS) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 314,643 shares, a drop of 39.6% from the September 30th total of 520,734 shares. Based on an average daily volume of 64,983 shares, the days-to-cover ratio is currently 4.8 days. Currently, 2.9% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Gelteq Price Performance

NASDAQ:GELS opened at $0.49 on Friday. The business’s 50-day simple moving average is $0.56 and its two-hundred day simple moving average is $0.66. Gelteq has a 52 week low of $0.39 and a 52 week high of $2.01.

Gelteq Company Profile

Gelteq Limited is an Australia-based health and wellness company that develops oral delivery products using proprietary gel-based technology. Its platform is designed to deliver active ingredients through convenient oral formats and may be used in nutraceutical, pharmaceutical and consumer health applications.

The company focuses on the development and commercialization of products containing vitamins, supplements and other bioactive ingredients. Gelteq also works with partners and customers on product formulation and development, with the aim of improving convenience, taste and the delivery of active compounds compared with traditional dosage forms.

Gelteq was established in Australia and serves the health and wellness market through its product-development and delivery technology activities.