Gelteq Limited (NASDAQ:GELS) Short Interest Down 28.2% in March

Gelteq Limited (NASDAQ:GELS) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 72,024 shares, a decrease of 28.2% from the March 15th total of 100,277 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily trading volume, of 9,327 shares, the days-to-cover ratio is presently 7.7 days.

Hedge Funds Weigh In On Gelteq

A hedge fund recently bought a new stake in Gelteq stock. Susquehanna International Group LLP purchased a new position in Gelteq Limited (NASDAQ:GELS) during the third quarter, according to the company in its most recent filing with the Securities and 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 at the end of the most recent reporting period.

Wall Street Analysts Forecast Growth

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

Gelteq Price Performance

NASDAQ:GELS opened at $0.70 on Friday. The firm’s 50-day moving average price is $0.74 and its 200-day moving average price is $0.95. Gelteq has a 1-year low of $0.64 and a 1-year high of $4.11.

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.