Gelteq (NASDAQ:GELS) Shares Up 0.9% – Here’s What Happened

Gelteq Limited (NASDAQ:GELS) shot up 0.9% during mid-day trading on Friday . The company traded as high as $0.5890 and last traded at $0.5628. Approximately 20,973 shares traded hands during trading, a decline of 54% from the average daily volume of 45,701 shares. The stock had previously closed at $0.5576.

Analysts Set New Price Targets

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

Gelteq Trading Up 0.9%

The stock’s 50 day simple moving average is $0.65 and its 200 day simple moving average is $0.66.

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

Institutional Trading of Gelteq

An institutional investor recently bought a new stake in Gelteq stock. Susquehanna International Group LLP bought a new position in Gelteq Limited (NASDAQ:GELS) in the 3rd quarter, according to the company in its most recent filing with the Securities and 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 quarter.

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.