LifeMD (NASDAQ:LFMD) Stock Price Down 0.7% – Here’s Why

LifeMD, Inc. (NASDAQ:LFMD)’s share price dropped 0.7% during mid-day trading on Thursday . The company traded as low as $4.32 and last traded at $4.50. 557,355 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 902,418 shares. The stock had previously closed at $4.53.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. BTIG Research reaffirmed a “buy” rating and set a $10.00 price target on shares of LifeMD in a research report on Monday, May 4th. Wall Street Zen upgraded shares of LifeMD from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. UBS Group reaffirmed a “buy” rating on shares of LifeMD in a report on Wednesday, May 27th. Weiss Ratings upgraded shares of LifeMD from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of LifeMD in a research note on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.14.

LifeMD Stock Down 0.7%

The firm has a market cap of $217.62 million, a price-to-earnings ratio of 90.02 and a beta of 1.99. The stock has a 50 day moving average of $4.57 and a 200 day moving average of $3.97.

LifeMD (NASDAQ:LFMD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). The firm had revenue of $50.16 million for the quarter, compared to analyst estimates of $48.84 million. LifeMD had a negative return on equity of 150.88% and a net margin of 2.37%. As a group, analysts predict that LifeMD, Inc. will post -0.37 EPS for the current fiscal year.

Institutional Trading of LifeMD

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in LifeMD during the fourth quarter valued at approximately $36,000. R Squared Ltd acquired a new stake in shares of LifeMD in the 1st quarter valued at $41,000. Magnus Financial Group LLC bought a new position in shares of LifeMD in the 4th quarter valued at $41,000. Jain Global LLC bought a new position in shares of LifeMD in the 4th quarter valued at $45,000. Finally, Quarry LP acquired a new position in shares of LifeMD during the 3rd quarter worth $52,000. Institutional investors and hedge funds own 35.52% of the company’s stock.

LifeMD Company Profile

LifeMD (NASDAQ: LFMD) is a U.S.-based telehealth company that delivers on-demand, membership-based virtual healthcare services. Through its digital platform and mobile applications, LifeMD connects patients with board-certified healthcare providers for diagnosis, treatment and ongoing management of a range of acute and chronic conditions. The company’s core offering centers on personalized care plans supported by prescription fulfillment, lab testing and prescription delivery services.

LifeMD’s service portfolio spans several specialty areas, including men’s health, hormonal therapy, weight management and primary care.