FitLife Brands Inc. (NASDAQ:FTLF) Short Interest Down 52.6% in June

Key Points

• Short interest in FitLife Brands dropped sharply in June, falling 52.6% to 91,300 shares as of June 30 from 192,562 shares two weeks earlier. That leaves about 2.5% of the float sold short, with a 1.4-day days-to-cover ratio.
• The company posted stronger-than-expected quarterly results, reporting EPS of $0.17 versus analyst expectations of $0.14 on revenue of $25.32 million. FitLife also showed a 18.31% return on equity and 6.64% net margin.
• Analyst sentiment is mixed but cautious, with the stock carrying a consensus "Hold" rating and an average target price of $21.50. Recent moves included Zacks cutting the stock to "strong sell" and Lake Street lowering its price target to $18 while keeping a "buy" rating.

FitLife Brands Inc. (NASDAQ:FTLF - Get Free Report) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 91,300 shares, a decline of 52.6% from the June 15th total of 192,562 shares. Based on an average daily trading volume, of 65,343 shares, the days-to-cover ratio is currently 1.4 days. Approximately 2.5% of the company's stock are short sold.

Hedge Funds Weigh In On FitLife Brands

Several hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of FitLife Brands by 78.0% in the 4th 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. Rhumbline Advisers boosted its position in shares of FitLife Brands by 12.3% during the 3rd quarter. Rhumbline Advisers now owns 5,870 shares of the company's stock worth $117,000 after acquiring an additional 642 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of FitLife Brands by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 92,689 shares of the company's stock worth $1,508,000 after acquiring an additional 991 shares in the last quarter. UBS Group AG increased its stake in FitLife Brands by 592.7% in the third quarter. UBS Group AG now owns 35,531 shares of the company's stock valued at $707,000 after acquiring an additional 30,402 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in FitLife Brands in the fourth quarter valued at approximately $657,000. 2.32% of the stock is owned by institutional investors.

FitLife Brands Stock Performance

NASDAQ:FTLF opened at $11.19 on Tuesday. The company has a market cap of $105.07 million, a price-to-earnings ratio of 18.53 and a beta of 0.01. FitLife Brands has a fifty-two week low of $8.67 and a fifty-two week high of $20.98. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 1.52. The stock has a fifty day moving average price of $10.54 and a 200-day moving average price of $12.64.

FitLife Brands (NASDAQ:FTLF - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The company had revenue of $25.32 million for the quarter. FitLife Brands had a return on equity of 18.31% and a net margin of 6.64%. As a group, equities analysts anticipate that FitLife Brands will post 0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FTLF shares. Zacks Research cut FitLife Brands from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 7th. Weiss Ratings cut shares of FitLife Brands from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 4th. Finally, Lake Street Capital dropped their target price on FitLife Brands from $21.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $21.50.

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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