FitLife Brands (NASDAQ:FTLF) Stock Price Up 18.4% - Here's What Happened

Key Points

• FitLife Brands' stock surged 18.4% during trading, reaching a high of $16.20, driven by a significant increase in trading volume compared to its average.
• Despite the stock's rise, Wall Street Zen downgraded FitLife Brands from a "buy" to a "hold" rating on May 22nd, highlighting potential concerns regarding the company's performance.
• The company reported a quarterly earnings miss with EPS at $0.20, falling short of the $0.24 consensus estimate, while institutional investors have shown increasing interest in acquiring shares.

FitLife Brands Inc. (NASDAQ:FTLF - Get Free Report) shot up 18.4% during mid-day trading on Tuesday . The company traded as high as $16.20 and last traded at $15.45. 124,639 shares traded hands during trading, an increase of 614% from the average session volume of 17,460 shares. The stock had previously closed at $13.05.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded FitLife Brands from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd.

FitLife Brands Stock Performance

The stock has a fifty day moving average of $13.57 and a 200-day moving average of $14.00. The firm has a market capitalization of $136.53 million, a P/E ratio of 17.27 and a beta of 0.79. The company has a quick ratio of 0.72, a current ratio of 1.64 and a debt-to-equity ratio of 0.19.

FitLife Brands (NASDAQ:FTLF - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.04). FitLife Brands had a net margin of 13.85% and a return on equity of 25.59%. On average, research analysts anticipate that FitLife Brands Inc. will post 0.94 EPS for the current year.

Hedge Funds Weigh In On FitLife Brands

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp acquired a new position in shares of FitLife Brands during the 4th quarter worth approximately $409,000. Mink Brook Asset Management LLC bought a new position in FitLife Brands during the fourth quarter worth $1,251,000. Bard Associates Inc. boosted its position in FitLife Brands by 239.5% during the first quarter. Bard Associates Inc. now owns 21,979 shares of the company's stock worth $266,000 after purchasing an additional 15,506 shares during the period. 683 Capital Management LLC acquired a new position in shares of FitLife Brands in the fourth quarter valued at $384,000. Finally, Geode Capital Management LLC raised its position in shares of FitLife Brands by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 23,202 shares of the company's stock valued at $757,000 after purchasing an additional 1,045 shares during the period. Institutional investors own 2.32% of the company's stock.

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.