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

Gelteq Limited (NASDAQ:GELS) saw a significant 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. Currently, 4.0% of the company’s stock are short sold. Based on an average daily volume of 19,813,187 shares, the short-interest ratio is presently 0.0 days.

Hedge Funds Weigh In On Gelteq

A hedge fund recently bought a new position 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 Form 13F 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 0.44% of Gelteq as of its most recent SEC filing.

Wall Street Analysts Forecast Growth

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

Gelteq Price Performance

GELS traded up $0.03 during trading on Friday, hitting $0.63. The company’s stock had a trading volume of 87,415 shares, compared to its average volume of 11,233,403. The stock’s fifty day moving average price is $0.63 and its 200-day moving average price is $0.77. Gelteq has a twelve month low of $0.39 and a twelve month high of $2.02.

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.