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

Gelteq Limited (NASDAQ:GELS) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 218,607 shares, a growth of 1,305.4% from the August 31st total of 15,555 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily volume of 14,143,777 shares, the short-interest ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Gelteq in a research report on Tuesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Gelteq Stock Down 0.7%

NASDAQ:GELS opened at $0.55 on Friday. Gelteq has a 12 month low of $0.39 and a 12 month high of $2.01. The firm’s 50 day moving average is $0.62 and its 200 day moving average is $0.64.

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

Gelteq Company Profile

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.