Gelteq Limited (NASDAQ:GELS – Get Free Report) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 314,643 shares, a decline of 39.6% from the September 30th total of 520,734 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average daily volume of 64,983 shares, the short-interest ratio is currently 4.8 days.
Gelteq Stock Performance
GELS stock traded up $0.00 during trading on Tuesday, hitting $0.49. 6,271 shares of the stock traded hands, compared to its average volume of 2,255,227. Gelteq has a 1 year low of $0.39 and a 1 year high of $2.01. The firm’s 50 day moving average is $0.56 and its two-hundred day moving average is $0.66.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Gelteq in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has a consensus rating of “Sell”.
Read Our Latest Stock Report on Gelteq
Gelteq Company Profile
Gelteq Limited is an Australia-based health and wellness company that develops oral delivery products using proprietary gel-based technology. Its platform is designed to deliver active ingredients through convenient oral formats and may be used in nutraceutical, pharmaceutical and consumer health applications.
The company focuses on the development and commercialization of products containing vitamins, supplements and other bioactive ingredients. Gelteq also works with partners and customers on product formulation and development, with the aim of improving convenience, taste and the delivery of active compounds compared with traditional dosage forms.
Gelteq was established in Australia and serves the health and wellness market through its product-development and delivery technology activities.
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