Gelteq Limited (NASDAQ:GELS) Short Interest Down 60.7% in June

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

Institutional Investors Weigh In On Gelteq

A hedge fund recently bought a new position in Gelteq stock. Susquehanna International Group LLP purchased a new position in Gelteq Limited (NASDAQ:GELS) in the third quarter, according to its most recent disclosure 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 0.44% of Gelteq at the end of the most recent reporting period.

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 equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Gelteq Price Performance

Shares of GELS traded down $0.00 during trading hours on Wednesday, hitting $0.53. The company’s stock had a trading volume of 15,500 shares, compared to its average volume of 2,189,022. The business has a 50 day simple moving average of $0.61 and a two-hundred day simple moving average of $0.73. Gelteq has a 52-week low of $0.39 and a 52-week high of $2.02.

Gelteq (NASDAQ:GELS) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.12) EPS for the 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.