FitLife Brands Inc. (NASDAQ:FTLF) Sees Large Drop in Short Interest

FitLife Brands Inc. (NASDAQ:FTLF) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 65,300 shares, a decrease of 29.1% from the September 30th total of 92,100 shares. Based on an average daily volume of 17,500 shares, the short-interest ratio is presently 3.7 days. Currently, 0.8% of the company’s stock are sold short. Currently, 0.8% of the company’s stock are sold short. Based on an average daily volume of 17,500 shares, the short-interest ratio is presently 3.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in FitLife Brands by 6,524.2% during the second quarter. Bank of America Corp DE now owns 2,186 shares of the company’s stock worth $28,000 after buying an additional 2,153 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of FitLife Brands in the 2nd quarter valued at $28,000. Osaic Holdings Inc. raised its stake in shares of FitLife Brands by 119.2% in the 2nd quarter. Osaic Holdings Inc. now owns 4,414 shares of the company’s stock valued at $57,000 after acquiring an additional 2,400 shares during the period. New York State Common Retirement Fund purchased a new position in shares of FitLife Brands in the 2nd quarter valued at $103,000. Finally, Bard Associates Inc. increased its stake in FitLife Brands by 239.5% during the 1st quarter. Bard Associates Inc. now owns 21,979 shares of the company’s stock worth $266,000 after buying an additional 15,506 shares during the period. 2.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FTLF has been the topic of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of FitLife Brands in a research report on Wednesday, October 8th. Zacks Research raised shares of FitLife Brands from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Roth Capital raised their price target on shares of FitLife Brands from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, FitLife Brands has a consensus rating of “Buy” and an average price target of $23.00.

FitLife Brands Stock Performance

NASDAQ FTLF traded up $0.19 during trading hours on Monday, hitting $19.31. The company had a trading volume of 7,626 shares, compared to its average volume of 19,189. The business has a 50 day moving average of $19.08 and a 200-day moving average of $15.94. FitLife Brands has a 1-year low of $9.83 and a 1-year high of $20.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.71. The company has a market cap of $181.34 million, a PE ratio of 31.15 and a beta of 0.65.

FitLife Brands (NASDAQ:FTLF) last announced its earnings results on Thursday, August 14th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $16.13 million during the quarter, compared to analysts’ expectations of $16.17 million. FitLife Brands had a net margin of 12.63% and a return on equity of 21.70%. As a group, equities research analysts expect that FitLife Brands will post 0.94 EPS for the current year.

FitLife Brands Company Profile

FitLife Brands, Inc provides nutritional supplements for health-conscious consumers in the United States and internationally. The company provides weight loss, sports nutrition, and general health products; sports nutrition products; weight loss and sports nutrition products; sports nutrition and general wellness formulations with an emphasis on natural, vegan, and organic ingredients; and male health and weight loss products, as well as other diet, health, and sports nutrition supplements and related products; and value-oriented sports nutrition and weight loss products.