Gelteq (NASDAQ:GELS) Shares Down 3.3% – Time to Sell?

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

Analyst Upgrades and Downgrades

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

Gelteq Stock Performance

The firm’s 50 day moving average price is $0.83 and its 200-day moving average price is $1.02.

Institutional Trading of Gelteq

An institutional investor recently bought a new position in Gelteq stock. Susquehanna International Group LLP bought a new position in shares of Gelteq Limited (NASDAQ:GELS) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 41,550 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned 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.