Traders Purchase High Volume of Conversion Labs Call Options (NASDAQ:CVLB)

Conversion Labs, Inc. (NASDAQ:CVLB) saw some unusual options trading on Tuesday. Stock traders acquired 20,966 call options on the stock. This represents an increase of 770% compared to the typical daily volume of 2,409 call options.

Several equities research analysts recently weighed in on the company. B. Riley began coverage on Conversion Labs in a research report on Friday, February 5th. They set a “buy” rating and a $35.00 price target on the stock. BTIG Research boosted their target price on Conversion Labs from $15.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, February 18th.

Conversion Labs stock traded down $2.95 during mid-day trading on Tuesday, hitting $26.45. The company had a trading volume of 440,544 shares, compared to its average volume of 1,046,458. The stock’s 50 day moving average price is $17.27 and its two-hundred day moving average price is $8.28. Conversion Labs has a 12 month low of $0.50 and a 12 month high of $33.02. The company has a market capitalization of $613.14 million, a PE ratio of -13.07 and a beta of 1.37.

A number of institutional investors have recently added to or reduced their stakes in the business. Diametric Capital LP bought a new stake in Conversion Labs in the fourth quarter worth $67,000. Monashee Investment Management LLC bought a new stake in Conversion Labs in the fourth quarter worth $2,749,000. HighTower Advisors LLC bought a new stake in Conversion Labs in the fourth quarter worth $163,000. Magnus Financial Group LLC purchased a new position in shares of Conversion Labs in the fourth quarter worth $310,000. Finally, Barry Investment Advisors LLC purchased a new position in shares of Conversion Labs in the fourth quarter worth $543,000. 0.86% of the stock is currently owned by institutional investors and hedge funds.

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.

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