Gelteq (NASDAQ:GELS) Stock Price Down 3.3% – What’s Next?

Gelteq Limited (NASDAQ:GELS)’s share price fell 3.3% during trading on Wednesday . The stock traded as low as $0.6906 and last traded at $0.7185. 9,987 shares changed hands during trading, a decline of 24% from the average session volume of 13,122 shares. The stock had previously closed at $0.7429.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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, the company presently has a consensus rating of “Sell”.

Gelteq Trading Down 3.3%

The company has a 50 day simple moving average of $0.84 and a 200-day simple moving average of $1.03.

Hedge Funds Weigh In On Gelteq

A hedge fund recently bought a new stake in Gelteq stock. Susquehanna International Group LLP acquired a new position in Gelteq Limited (NASDAQ:GELS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 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.

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.