Gelteq (NASDAQ:GELS) Stock Price Down 3.1% – Here’s Why

Gelteq Limited (NASDAQ:GELS) shares were down 3.1% during trading on Friday . The company traded as low as $0.5550 and last traded at $0.5619. 75,631 shares changed hands during trading, a decline of 99% from the average session volume of 7,266,985 shares. The stock had previously closed at $0.5797.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Gelteq from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Gelteq Stock Performance

The company has a 50-day moving average of $0.62 and a two-hundred day moving average of $0.65.

Gelteq (NASDAQ:GELS) last posted its quarterly earnings data on Tuesday, June 30th. The company reported ($0.12) earnings per share (EPS) for the quarter.

About Gelteq

Gelteq Limited is an Australia-based life sciences company that develops oral delivery solutions using proprietary gel technology. Its platform is designed to deliver active ingredients in formats intended to improve convenience, taste, stability and absorption compared with some traditional tablets, capsules and powders.

The company focuses on applications across the nutraceutical, pharmaceutical, consumer health and wellness sectors. Its products and development programs include gel-based formulations for vitamins, supplements and other active ingredients, with the technology intended to support a range of ingredients and delivery requirements.

Gelteq serves customers and commercialization partners from its Australian base and is focused on expanding the use of its delivery platform in international markets.