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

Key Points

• Short interest rose 22.6% to 90,665 shares as of March 31, about 2.5% of shares sold short and a short-interest ratio of 5.1 days.
• Insider buying — two directors each bought 3,000 shares on April 10 (avg. ~$9.98 and $9.76), and company insiders now own 61.40% of the stock.
• Mixed analyst view vs. current price — the average analyst rating is "Hold" with a $21.50 target, while the stock trades near $9.25 and has a market cap of roughly $86.9M.

FitLife Brands Inc. (NASDAQ:FTLF - Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totaling 90,665 shares, a growth of 22.6% from the March 15th total of 73,950 shares. Approximately 2.5% of the shares of the company are sold short. Based on an average daily volume of 17,635 shares, the short-interest ratio is currently 5.1 days.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FTLF. Weiss Ratings reiterated a "hold (c+)" rating on shares of FitLife Brands in a research report on Monday, December 29th. Lake Street Capital reduced their price objective on shares of 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 downgraded shares of FitLife Brands from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 7th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $21.50.

Insiders Place Their Bets

In related news, Director Grant Robert Dawson bought 3,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average cost of $9.98 per share, with a total value of $29,940.00. Following the acquisition, the director owned 158,000 shares in the company, valued at $1,576,840. This trade represents a 1.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew Lingenbrink bought 3,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 8,800 shares of the company's stock, valued at $85,888. This represents a 51.72% increase in their position. The disclosure for this purchase is available in the SEC filing. 61.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FitLife Brands

Large investors have recently bought and sold shares of the business. Bard Associates Inc. raised its holdings in FitLife Brands by 5.3% during the 4th quarter. Bard Associates Inc. now owns 17,594 shares of the company's stock valued at $286,000 after buying an additional 893 shares during the period. Stifel Financial Corp purchased a new position in FitLife Brands during the fourth quarter worth $657,000. Wells Fargo & Company MN boosted its stake in FitLife Brands by 78.0% during the fourth quarter. Wells Fargo & Company MN now owns 4,271 shares of the company's stock worth $69,000 after buying an additional 1,871 shares during the period. Steward Partners Investment Advisory LLC increased its position in FitLife Brands by 107.6% during 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 during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in FitLife Brands during the fourth quarter valued at $263,000. Institutional investors own 2.32% of the company's stock.

FitLife Brands Price Performance

NASDAQ FTLF traded down $0.05 during trading on Thursday, hitting $9.25. 22,075 shares of the stock traded hands, compared to its average volume of 21,594. The company has a quick ratio of 0.54, a current ratio of 1.53 and a debt-to-equity ratio of 0.88. FitLife Brands has a 12-month low of $8.67 and a 12-month high of $20.98. The firm has a 50-day simple moving average of $13.45 and a 200-day simple moving average of $16.22. The company has a market capitalization of $86.86 million, a P/E ratio of 14.59 and a beta of 0.37.

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.

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