LifeMD, Inc. (NASDAQ:LFMD) Sees Significant Increase in Short Interest

LifeMD, Inc. (NASDAQ:LFMD) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 6,400,000 shares, an increase of 25.2% from the February 13th total of 5,110,000 shares. Approximately 18.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,060,000 shares, the short-interest ratio is currently 6.0 days.

LifeMD Stock Performance

Shares of NASDAQ:LFMD opened at $5.65 on Wednesday. The firm has a market cap of $251.90 million, a PE ratio of -8.83 and a beta of 1.50. The firm’s 50 day simple moving average is $5.68 and its 200-day simple moving average is $5.40. LifeMD has a one year low of $3.99 and a one year high of $12.88.

LifeMD (NASDAQ:LFMD) last issued its quarterly earnings data on Monday, March 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. The business had revenue of $64.26 million for the quarter, compared to analysts’ expectations of $57.43 million. Equities research analysts predict that LifeMD will post -0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LFMD. B. Riley upgraded LifeMD to a “strong-buy” rating in a research note on Tuesday, March 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 price target on shares of LifeMD in a report on Tuesday, March 11th. Lake Street Capital started coverage on shares of LifeMD in a research note on Tuesday, December 10th. They issued a “buy” rating and a $12.00 price objective for the company. HC Wainwright raised their target price on shares of LifeMD from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Finally, KeyCorp reduced their target price on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $11.43.

Insider Transactions at LifeMD

In other LifeMD news, CMO Jessica Friedeman sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $5.66, for a total transaction of $169,800.00. Following the transaction, the chief marketing officer now owns 170,000 shares in the company, valued at approximately $962,200. This represents a 15.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Justin Schreiber sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $5.19, for a total value of $129,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,703,715 shares in the company, valued at approximately $14,032,280.85. This represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,000 shares of company stock worth $677,050. Company insiders own 15.97% of the company’s stock.

Hedge Funds Weigh In On LifeMD

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC purchased a new position in LifeMD in the fourth quarter worth $56,000. Connective Capital Management LLC purchased a new position in LifeMD in the fourth quarter worth $162,000. State of Wyoming grew its holdings in LifeMD by 30.5% in the fourth quarter. State of Wyoming now owns 32,689 shares of the company’s stock worth $162,000 after purchasing an additional 7,635 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new position in LifeMD in the fourth quarter worth $120,000. Finally, ProShare Advisors LLC purchased a new position in LifeMD in the fourth quarter worth $51,000. 35.52% of the stock is owned by hedge funds and other institutional investors.

LifeMD Company Profile

LifeMD, Inc operates as a direct-to-patient telehealth company that connects consumers to healthcare professionals for medical care in the United States. The company offers telehealth platform comprising RexMD, a men's telehealth brand that provides access to virtual medical treatment for a variety of men's health needs from licensed physician; ShapiroMD that provides virtual medical treatment, prescription medications, patented doctor formulated OTC products, topical compounded medications, and medical devices treating male and female hair loss; NavaMD, a female-oriented tele-dermatology that offers virtual medical treatment from dermatologists and other providers; and prescription oral and compounded topical medications to treat aging and acne; and Cleared which provides personalized treatments for allergy, asthma and immunology, including in-home tests for both environmental and food allergies, prescriptions for allergies and asthma and immunotherapies for treating chronic allergies.