Gelteq Limited (NASDAQ:GELS) Short Interest Down 60.7% in June

Gelteq Limited (NASDAQ:GELS) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 167,463 shares, a decrease of 60.7% from the June 15th total of 426,471 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 447,283 shares, the days-to-cover ratio is currently 0.4 days.

Gelteq Stock Down 3.3%

Shares of GELS stock traded down $0.02 on Tuesday, reaching $0.52. 28,743 shares of the company were exchanged, compared to its average volume of 2,205,417. Gelteq has a 1 year low of $0.39 and a 1 year high of $2.02. The business has a 50-day moving average price of $0.61 and a 200 day moving average price of $0.74.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Gelteq from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Gelteq has an average rating of “Sell”.

Institutional Trading of Gelteq

A hedge fund recently bought a new position in Gelteq stock. Susquehanna International Group LLP purchased a new position in shares of Gelteq Limited (NASDAQ:GELS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 & Exchange Commission.

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.