Conversion Labs, Inc. (NASDAQ:CVLB) was the target of unusually large options trading on Tuesday. Stock investors bought 20,966 call options on the stock. This represents an increase of approximately 770% compared to the average daily volume of 2,409 call options.
Institutional investors and hedge funds have recently modified their holdings of the company. Magnus Financial Group LLC bought a new stake in shares of Conversion Labs during the 4th quarter valued at about $310,000. Diametric Capital LP bought a new stake in shares of Conversion Labs during the 4th quarter valued at about $67,000. HighTower Advisors LLC bought a new stake in shares of Conversion Labs during the 4th quarter valued at about $163,000. Monashee Investment Management LLC bought a new stake in shares of Conversion Labs during the 4th quarter valued at about $2,749,000. Finally, Barry Investment Advisors LLC bought a new stake in shares of Conversion Labs during the 4th quarter valued at about $543,000. Hedge funds and other institutional investors own 0.86% of the company’s stock.
Shares of CVLB traded down $2.95 during trading hours on Tuesday, reaching $26.45. 440,544 shares of the company’s stock traded hands, compared to its average volume of 1,046,458. The stock has a market cap of $613.14 million, a PE ratio of -13.07 and a beta of 1.37. The firm’s 50 day simple moving average is $17.27 and its 200-day simple moving average is $8.28. Conversion Labs has a 12 month low of $0.50 and a 12 month high of $33.02.
Conversion Labs Company Profile
Conversion Labs, Inc operates as a direct response healthcare company that provides over the counter products and prescription medications to consumers worldwide. The company's products include Shapiro MD, a shampoo, conditioner, and leave-in-foamer for treating hair loss; iNR Wellness MD, a nutritional supplement for immune and gut support; RexMD for the treatment of cold sores, mental health, and various other medical conditions faced by men; SOSRx, a telemedicine brand that offers prescription medications and over-the-counter emergency preparation supplies for disaster situations, such as flu epidemics, bacterial outbreaks, bioterrorism and water supply failures, and others; and PDFSimpli, a PDF conversion software enables users to convert, edit, and sign PDF documents.
Further Reading: Analyst Ratings Trading
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