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 trading volume of 17,500 shares, the days-to-cover ratio is currently 3.7 days. Approximately 0.8% of the company’s stock are sold short. Approximately 0.8% of the company’s stock are sold short. Based on an average trading volume of 17,500 shares, the days-to-cover ratio is currently 3.7 days.

FitLife Brands Price Performance

Shares of FitLife Brands stock traded up $0.19 during trading on Monday, hitting $19.31. 7,626 shares of the stock traded hands, compared to its average volume of 19,189. The firm’s fifty day moving average is $19.08 and its 200-day moving average is $15.94. The company has a quick ratio of 0.81, a current ratio of 1.71 and a debt-to-equity ratio of 0.15. FitLife Brands has a 52 week low of $9.83 and a 52 week high of $20.98. The stock has a market cap of $181.34 million, a price-to-earnings ratio of 31.15 and a beta of 0.65.

FitLife Brands (NASDAQ:FTLF) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. FitLife Brands had a return on equity of 21.70% and a net margin of 12.63%.The business had revenue of $16.13 million during the quarter, compared to analysts’ expectations of $16.17 million. Research analysts expect that FitLife Brands will post 0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

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

About FitLife Brands

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.