Gelteq (NASDAQ:GELS) Stock Price Down 3.3% – Here’s What Happened

Gelteq Limited (NASDAQ:GELS)’s share price dropped 3.3% on Wednesday . The company traded as low as $0.6906 and last traded at $0.7185. Approximately 9,987 shares changed hands during trading, a decline of 24% from the average daily volume of 13,122 shares. The stock had previously closed at $0.7429.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Gelteq in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Gelteq has an average rating of “Sell”.

Gelteq Trading Down 3.3%

The stock’s fifty day moving average is $0.84 and its two-hundred day moving average is $1.03.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Gelteq stock. Susquehanna International Group LLP acquired a new stake in shares of Gelteq Limited (NASDAQ:GELS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 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.

About Gelteq

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.