FitLife Brands (NASDAQ:FTLF) Stock Price Down 0.6% – Time to Sell?

FitLife Brands Inc. (NASDAQ:FTLF) dropped 0.6% during trading on Thursday . The company traded as low as $9.94 and last traded at $9.94. Approximately 9,996 shares changed hands during trading, a decline of 67% from the average daily volume of 29,938 shares. The stock had previously closed at $10.00.

Wall Street Analyst Weigh In

FTLF has been the topic of a number of research analyst reports. Lake Street Capital lowered their price objective on shares of FitLife Brands from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Zacks Research lowered shares of FitLife Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. Two 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.50.

FitLife Brands Stock Performance

The company has a current ratio of 1.52, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $93.34 million, a PE ratio of 16.46 and a beta of 0.02. The firm’s 50-day simple moving average is $10.22 and its two-hundred day simple moving average is $13.90.

FitLife Brands (NASDAQ:FTLF) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. FitLife Brands had a net margin of 6.64% and a return on equity of 18.31%. The firm had revenue of $25.33 million for the quarter. On average, equities research analysts expect that FitLife Brands Inc. will post 0.83 earnings per share for the current fiscal year.

Insider Activity at FitLife Brands

In related news, Director Matthew Lingenbrink purchased 3,000 shares of the stock in a transaction dated Friday, April 10th. The shares were acquired at an average cost of $9.76 per share, for a total transaction of $29,280.00. Following the acquisition, the director directly owned 8,800 shares in the company, valued at approximately $85,888. The trade was a 51.72% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Grant Robert Dawson purchased 3,000 shares of the stock in a transaction dated Friday, April 10th. The shares were bought at an average price of $9.98 per share, for a total transaction of $29,940.00. Following the completion of the acquisition, the director owned 158,000 shares in the company, valued at $1,576,840. This represents a 1.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 61.40% of the company’s stock.

Hedge Funds Weigh In On FitLife Brands

Several institutional investors and hedge funds have recently modified their holdings of FTLF. Geode Capital Management LLC grew its holdings in shares of FitLife Brands by 101.4% during the 2nd quarter. Geode Capital Management LLC now owns 90,746 shares of the company’s stock valued at $1,182,000 after acquiring an additional 45,690 shares in the last quarter. New York State Common Retirement Fund bought a new stake in FitLife Brands during the second quarter valued at about $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in FitLife Brands during the second quarter valued at about $28,000. Bank of America Corp DE boosted its holdings in FitLife Brands by 6,524.2% during the second quarter. Bank of America Corp DE now owns 2,186 shares of the company’s stock valued at $28,000 after acquiring an additional 2,153 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in FitLife Brands by 119.2% during the second quarter. Osaic Holdings Inc. now owns 4,414 shares of the company’s stock valued at $57,000 after acquiring an additional 2,400 shares during the period. 2.32% of the stock is currently owned by hedge funds and other institutional investors.

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.