Gelteq Limited (NASDAQ:GELS) Sees Large Decline in Short Interest

Gelteq Limited (NASDAQ:GELS) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 167,463 shares, a drop of 60.7% from the June 15th total of 426,471 shares. Based on an average daily volume of 447,283 shares, the days-to-cover ratio is currently 0.4 days. Approximately 1.6% of the company’s shares are sold short.

Analyst Ratings Changes

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

Gelteq Stock Performance

Shares of NASDAQ:GELS opened at $0.53 on Monday. Gelteq has a 52 week low of $0.39 and a 52 week high of $2.02. The firm’s fifty day moving average is $0.61 and its 200-day moving average is $0.74.

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

Institutional Investors Weigh In On Gelteq

A hedge fund recently bought a new stake in Gelteq stock. Susquehanna International Group LLP purchased a new stake in Gelteq Limited (NASDAQ:GELS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 41,550 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned 0.44% of Gelteq at the end of the most recent 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.