FitLife Brands (NASDAQ:FTLF) Stock Price Down 0.6% – Here’s Why

FitLife Brands Inc. (NASDAQ:FTLF) dropped 0.6% on Thursday . The stock traded as low as $9.94 and last traded at $9.94. Approximately 9,996 shares changed hands during trading, a decline of 67% from the average daily volume of 29,938 shares. The stock had previously closed at $10.00.

Analysts Set New Price Targets

FTLF has been the topic of several research analyst reports. Weiss Ratings lowered FitLife Brands from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Lake Street Capital cut their target price on FitLife Brands from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Finally, Zacks Research lowered shares of FitLife Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.50.

FitLife Brands Stock Performance

The company has a current ratio of 1.52, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $92.68 million, a price-to-earnings ratio of 16.34 and a beta of 0.02. The stock’s 50 day moving average price is $10.15 and its two-hundred day moving average price is $13.88.

FitLife Brands (NASDAQ:FTLF) last announced its earnings results on Thursday, May 14th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $25.33 million for the quarter. FitLife Brands had a return on equity of 18.31% and a net margin of 6.64%. On average, analysts forecast that FitLife Brands Inc. will post 0.83 EPS for the current year.

Insider Buying and Selling

In related news, Director Matthew Lingenbrink acquired 3,000 shares of FitLife Brands stock in a transaction on Friday, April 10th. The shares were bought at an average price of $9.76 per share, for a total transaction of $29,280.00. Following the completion of the purchase, the director directly owned 8,800 shares in the company, valued at $85,888. This trade represents a 51.72% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Grant Robert Dawson acquired 3,000 shares of FitLife Brands stock in a transaction on Friday, April 10th. The shares were bought at an average price of $9.98 per share, for a total transaction of $29,940.00. Following the purchase, the director owned 158,000 shares of the company’s stock, valued at $1,576,840. This represents a 1.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 61.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FitLife Brands

A number of institutional investors have recently added to or reduced their stakes in the company. Bard Associates Inc. lifted its holdings in FitLife Brands by 3.5% in the 3rd quarter. Bard Associates Inc. now owns 16,701 shares of the company’s stock worth $332,000 after buying an additional 561 shares in the last quarter. Rhumbline Advisers lifted its holdings in FitLife Brands by 12.3% in the 3rd quarter. Rhumbline Advisers now owns 5,870 shares of the company’s stock worth $117,000 after buying an additional 642 shares in the last quarter. Geode Capital Management LLC lifted its holdings in FitLife Brands by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 92,689 shares of the company’s stock worth $1,508,000 after buying an additional 991 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in FitLife Brands by 107.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,478 shares of the company’s stock valued at $57,000 after acquiring an additional 1,803 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in FitLife Brands by 78.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,271 shares of the company’s stock valued at $69,000 after acquiring an additional 1,871 shares in the last quarter. Institutional investors and hedge funds own 2.32% of the company’s stock.

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.