Short Interest in Gelteq Limited (NASDAQ:GELS) Expands By 453.2%

Gelteq Limited (NASDAQ:GELS) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 426,471 shares, a growth of 453.2% from the May 31st total of 77,097 shares. Approximately 4.0% of the company’s stock are short sold. Based on an average daily volume of 19,813,187 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Gelteq from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Trading of Gelteq

A hedge fund recently bought a new stake in Gelteq stock. Susquehanna International Group LLP bought a new stake in Gelteq Limited (NASDAQ:GELS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 41,550 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned approximately 0.44% of Gelteq as of its most recent SEC filing.

Gelteq Trading Up 4.6%

GELS traded up $0.03 during trading hours on Friday, reaching $0.63. The company’s stock had a trading volume of 49,860 shares, compared to its average volume of 2,399,672. Gelteq has a fifty-two week low of $0.39 and a fifty-two week high of $2.02. The business’s 50-day moving average is $0.63 and its 200-day moving average is $0.77.

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.