Gelteq (NASDAQ:GELS) Trading Down 3.2% – Here’s Why

Gelteq Limited (NASDAQ:GELS) traded down 3.2% on Tuesday . The stock traded as low as $0.73 and last traded at $0.7496. 3,215 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 19,565 shares. The stock had previously closed at $0.7741.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Gelteq in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Gelteq Stock Performance

The business’s fifty day moving average price is $0.87 and its 200-day moving average price is $1.08.

Hedge Funds Weigh In On Gelteq

An institutional investor recently bought a new position in Gelteq stock. Susquehanna International Group LLP bought a new stake in shares of Gelteq Limited (NASDAQ:GELS) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 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 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.