Gelteq (NASDAQ:GELS) Trading Down 3.2% – Time to Sell?

Gelteq Limited (NASDAQ:GELS)’s share price dropped 3.2% during trading on Tuesday . The company traded as low as $0.73 and last traded at $0.7496. Approximately 3,215 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 19,565 shares. The stock had previously closed at $0.7741.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Gelteq in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Gelteq Stock Down 3.2%

The firm has a fifty day moving average price of $0.87 and a two-hundred day moving average price of $1.08.

Institutional Trading of Gelteq

An institutional investor recently bought a new position in Gelteq stock. Susquehanna International Group LLP purchased a new position in Gelteq Limited (NASDAQ:GELS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 quarter.

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.