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

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised 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, the company currently has an average rating of “Sell”.

Gelteq Stock Up 4.6%

Shares of NASDAQ:GELS traded up $0.03 during trading on Friday, hitting $0.63. 49,860 shares of the company traded hands, compared to its average volume of 2,399,672. Gelteq has a one year low of $0.39 and a one year high of $2.02. The business’s fifty day moving average is $0.63 and its 200-day moving average is $0.77.

Institutional Trading of Gelteq

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 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.