Gelteq (NASDAQ:GELS) Stock Price Down 3.2% – Here’s What Happened

Gelteq Limited (NASDAQ:GELS) shares were down 3.2% during trading on Tuesday . The stock traded as low as $0.73 and last traded at $0.7496. 3,215 shares were traded during trading, a decline of 84% from the average daily volume of 19,565 shares. The stock had previously closed at $0.7741.

Analysts Set New Price Targets

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

Gelteq Stock Performance

The company’s 50-day simple moving average is $0.87 and its 200 day simple moving average is $1.08.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Gelteq stock. Susquehanna International Group LLP acquired a new position in shares of Gelteq Limited (NASDAQ:GELS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 41,550 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned about 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.