FitLife Brands (NASDAQ:FTLF) Trading Up 1.3% - Here's What Happened

FitLife Brands, Inc. (NASDAQ:FTLF - Get Free Report)'s share price rose 1.3% during mid-day trading on Wednesday . The stock traded as high as $15.91 and last traded at $15.76. Approximately 8,885 shares changed hands during trading, a decline of 50% from the average daily volume of 17,820 shares. The stock had previously closed at $15.56.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital initiated coverage on shares of FitLife Brands in a report on Monday, March 17th. They issued a "buy" rating and a $21.00 price objective on the stock.

FitLife Brands Trading Up 1.3 %

The company has a current ratio of 1.50, a quick ratio of 0.64 and a debt-to-equity ratio of 0.28. The business has a 50 day simple moving average of $13.39 and a two-hundred day simple moving average of $15.03. The stock has a market cap of $147.86 million, a price-to-earnings ratio of 18.65 and a beta of 0.90.

FitLife Brands (NASDAQ:FTLF - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). FitLife Brands had a return on equity of 28.03% and a net margin of 13.38%. As a group, equities analysts anticipate that FitLife Brands, Inc. will post 0.94 EPS for the current year.

Insider Activity

In other news, Director Matthew Lingenbrink purchased 2,800 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average cost of $12.17 per share, with a total value of $34,076.00. Following the transaction, the director now owns 2,800 shares in the company, valued at approximately $34,076. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 61.30% of the company's stock.

Institutional Investors Weigh In On FitLife Brands

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC acquired a new position in FitLife Brands during the third quarter worth about $91,000. Bard Associates Inc. bought a new position in shares of FitLife Brands during the 4th quarter valued at about $211,000. 683 Capital Management LLC acquired a new position in shares of FitLife Brands in the 4th quarter worth approximately $384,000. Northern Trust Corp bought a new stake in shares of FitLife Brands in the 4th quarter worth approximately $409,000. Finally, Geode Capital Management LLC lifted its stake in FitLife Brands by 5.4% during the third quarter. Geode Capital Management LLC now owns 22,157 shares of the company's stock valued at $726,000 after purchasing an additional 1,144 shares during the last quarter. 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.

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