LifeMD, Inc. (NASDAQ:LFMD) Short Interest Update

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) saw 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. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is presently 6.0 days. Approximately 18.8% of the shares of the company are sold short.

LifeMD Stock Performance

Shares of NASDAQ LFMD traded down $0.05 during mid-day trading on Friday, hitting $5.60. 643,014 shares of the stock were exchanged, compared to its average volume of 800,196. LifeMD has a twelve month low of $3.99 and a twelve month high of $12.88. The stock's fifty day simple moving average is $5.71 and its two-hundred day simple moving average is $5.40. The company has a market cap of $249.67 million, a P/E ratio of -8.75 and a beta of 1.50.

LifeMD (NASDAQ:LFMD - Get Free Report) 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 during the quarter, compared to the consensus estimate of $57.43 million. As a group, equities research analysts predict that LifeMD will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In other LifeMD news, CMO Jessica Friedeman sold 30,000 shares of the firm'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 value of $169,800.00. Following the sale, the chief marketing officer now owns 170,000 shares of the company's stock, valued at $962,200. This trade represents a 15.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $7.55, for a total value of $377,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,653,715 shares of the company's stock, valued at $20,035,548.25. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 105,000 shares of company stock valued at $677,050 over the last 90 days. 15.97% of the stock is currently owned by company insiders.

Remove Ads

Institutional Investors Weigh In On LifeMD

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LFMD. Los Angeles Capital Management LLC increased its holdings in shares of LifeMD by 852.6% in the third quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company's stock valued at $637,000 after purchasing an additional 108,822 shares in the last quarter. Royce & Associates LP increased its position in LifeMD by 14.6% in the third quarter. Royce & Associates LP now owns 901,041 shares of the company's stock worth $4,721,000 after purchasing an additional 114,710 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of LifeMD by 6.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 765,916 shares of the company's stock worth $4,013,000 after buying an additional 48,201 shares during the period. Intech Investment Management LLC acquired a new stake in LifeMD during the 3rd quarter worth $54,000. Finally, Integrated Investment Consultants LLC bought a new stake in shares of LifeMD during the 3rd quarter valued at $129,000. Institutional investors and hedge funds own 35.52% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on LFMD. B. Riley upgraded LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $15.00 price target on shares of LifeMD in a report on Tuesday, March 11th. KeyCorp reduced their price objective on shares of LifeMD from $10.00 to $7.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. HC Wainwright upped their target price on shares of LifeMD from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, March 12th. Finally, Mizuho assumed coverage on shares of LifeMD in a research note on Wednesday, December 4th. They set a "neutral" rating and a $7.00 price target for the company. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $11.43.

About LifeMD

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.