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

Key Points

• Short interest surged 50.2% to 136,180 shares as of April 15 (about 3.8% of shares outstanding), implying a days-to-cover ratio of roughly 2.7 based on average daily volume.
• Two directors each bought 3,000 shares on April 10 at about $9.76–$9.98, and company insiders now control 61.40% of the stock.
• Analyst views are mixed: the consensus is an average rating of "Hold" with an average target of $21.50, while Lake Street rates it a Buy (PT lowered to $18) and Zacks recently cut it to a Strong Sell.

FitLife Brands Inc. (NASDAQ:FTLF - Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 136,180 shares, a growth of 50.2% from the March 31st total of 90,665 shares. Approximately 3.8% of the shares of the company are sold short. Based on an average trading volume of 51,244 shares, the days-to-cover ratio is presently 2.7 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of FitLife Brands in a report on Monday, December 29th. Lake Street Capital decreased their price target on FitLife Brands from $21.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Finally, Zacks Research downgraded FitLife Brands from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, FitLife Brands currently has an average rating of "Hold" and an average target price of $21.50.

Insider Activity at FitLife Brands

In related news, Director Matthew Lingenbrink purchased 3,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The stock was purchased at an average cost of $9.76 per share, with a total value of $29,280.00. Following the completion of the acquisition, the director directly owned 8,800 shares in the company, valued at $85,888. This trade represents a 51.72% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Grant Robert Dawson purchased 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 completion of the acquisition, the director owned 158,000 shares of the company's stock, valued at approximately $1,576,840. This trade 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 corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Bard Associates Inc. increased its position in shares of FitLife Brands by 5.3% in the fourth quarter. Bard Associates Inc. now owns 17,594 shares of the company's stock valued at $286,000 after buying an additional 893 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of FitLife Brands in the fourth quarter valued at $657,000. Wells Fargo & Company MN increased its position in shares of 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 buying an additional 1,871 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of 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 buying an additional 1,803 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of FitLife Brands in the fourth quarter valued at $263,000. Hedge funds and other institutional investors own 2.32% of the company's stock.

FitLife Brands Price Performance

FitLife Brands stock opened at $9.25 on Tuesday. FitLife Brands has a one year low of $8.67 and a one year high of $20.98. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.54 and a current ratio of 1.53. The business has a fifty day moving average of $12.60 and a two-hundred day moving average of $15.59. The company has a market cap of $86.86 million, a P/E ratio of 14.59 and a beta of 0.37.

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.

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