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

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

Gelteq Price Performance

GELS traded down $0.00 on Monday, hitting $0.49. The company had a trading volume of 9,126 shares, compared to its average volume of 2,265,937. The stock has a fifty day moving average price of $0.56 and a 200-day moving average price of $0.66. Gelteq has a 12-month low of $0.39 and a 12-month high of $2.01.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Gelteq in a report on Tuesday, September 22nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

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.