Gelteq Limited (NASDAQ:GELS) Sees Large Decline in Short Interest
by Doug Wharley · The Cerbat GemGelteq Limited (NASDAQ:GELS – Get Free Report) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 72,024 shares, a decline of 28.2% from the March 15th total of 100,277 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 9,327 shares, the days-to-cover ratio is presently 7.7 days.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Gelteq in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Gelteq presently has a consensus rating of “Sell”.
Read Our Latest Stock Report on Gelteq
Institutional Trading of 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 – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 reporting period.
Gelteq Stock Performance
Gelteq stock remained flat at $0.70 during trading on Thursday. 3,458 shares of the company traded hands, compared to its average volume of 21,996. Gelteq has a 12-month low of $0.64 and a 12-month high of $4.11. The company has a fifty day simple moving average of $0.74 and a 200 day simple moving average of $0.95.
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.