Gelteq Limited (NASDAQ:GELS) Sees Large Drop in Short Interest

Gelteq Limited (NASDAQ:GELS) saw a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 37,312 shares, a decline of 34.3% from the April 15th total of 56,786 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 12,987 shares, the short-interest ratio is presently 2.9 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Gelteq stock. Susquehanna International Group LLP bought a new position in Gelteq Limited (NASDAQ:GELS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 41,550 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned approximately 0.44% of Gelteq at the end of the most recent reporting period.

Gelteq Price Performance

Gelteq stock opened at $0.39 on Wednesday. The firm’s 50 day simple moving average is $0.66 and its 200-day simple moving average is $0.84. Gelteq has a fifty-two week low of $0.39 and a fifty-two week high of $3.51.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Gelteq from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Gelteq Company Profile

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.