Gelteq Limited (NASDAQ:GELS) Short Interest Down 32.9% in July

Gelteq Limited (NASDAQ:GELS) saw a large decline in short interest in July. As of July 15th, there was short interest totaling 112,420 shares, a decline of 32.9% from the June 30th total of 167,463 shares. Based on an average daily trading volume, of 41,384 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.0% of the shares of the stock are short sold.

Institutional Trading of Gelteq

An institutional investor recently bought a new stake in Gelteq stock. Susquehanna International Group LLP purchased a new stake in Gelteq Limited (NASDAQ:GELS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 filing with the Securities and Exchange Commission (SEC).

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Gelteq from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Gelteq presently has a consensus rating of “Sell”.

Gelteq Price Performance

Shares of NASDAQ GELS opened at $0.55 on Friday. Gelteq has a twelve month low of $0.39 and a twelve month high of $2.02. The firm has a 50-day moving average of $0.65 and a two-hundred day moving average of $0.71.

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

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.