Short Interest in LifeMD, Inc. (NASDAQ:LFMD) Rises By 27.5%

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 8,160,000 shares, an increase of 27.5% from the February 28th total of 6,400,000 shares. Approximately 23.6% of the company's shares are short sold. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is presently 7.1 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LFMD. HC Wainwright lifted their price target on LifeMD from $12.00 to $14.00 and gave the company a "buy" rating in a report on Wednesday, March 12th. KeyCorp cut their target price on LifeMD from $10.00 to $7.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Cantor Fitzgerald restated an "overweight" rating and issued a $15.00 price target on shares of LifeMD in a report on Tuesday, March 11th. Lake Street Capital began coverage on shares of LifeMD in a research note on Tuesday, December 10th. They set a "buy" rating and a $12.00 price objective for the company. Finally, B. Riley upgraded shares of LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, LifeMD presently has an average rating of "Buy" and a consensus target price of $11.43.

LifeMD Stock Performance

LFMD stock traded down $0.16 during trading on Friday, reaching $5.16. The company had a trading volume of 1,320,460 shares, compared to its average volume of 809,459. LifeMD has a twelve month low of $3.99 and a twelve month high of $12.88. The company has a market cap of $230.05 million, a price-to-earnings ratio of -8.06 and a beta of 2.22. The firm has a 50-day simple moving average of $5.86 and a 200-day simple moving average of $5.44.

LifeMD (NASDAQ:LFMD - Get Free Report) last posted its quarterly earnings data on Monday, March 10th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. The company had revenue of $64.26 million for the quarter, compared to analyst estimates of $57.43 million. Sell-side analysts expect that LifeMD will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In other news, CMO Jessica Friedeman sold 30,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $5.66, for a total value of $169,800.00. Following the completion of the sale, the chief marketing officer now owns 170,000 shares of the company's stock, valued at approximately $962,200. This represents a 15.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Justin Schreiber sold 50,000 shares of LifeMD stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $7.55, for a total transaction of $377,500.00. Following the transaction, the chief executive officer now directly owns 2,653,715 shares in the company, valued at approximately $20,035,548.25. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Marshall Wace LLP boosted its position in LifeMD by 522.9% in the fourth quarter. Marshall Wace LLP now owns 371,473 shares of the company's stock valued at $1,839,000 after buying an additional 311,841 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of LifeMD by 23.9% in the 4th quarter. Royce & Associates LP now owns 1,115,991 shares of the company's stock valued at $5,524,000 after acquiring an additional 214,950 shares during the last quarter. State Street Corp increased its stake in shares of LifeMD by 20.0% in the third quarter. State Street Corp now owns 1,155,495 shares of the company's stock worth $6,055,000 after acquiring an additional 192,861 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of LifeMD by 21.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company's stock worth $4,610,000 after purchasing an additional 165,378 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in LifeMD by 45.2% during the fourth quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock valued at $2,524,000 after purchasing an additional 158,796 shares during the period. 35.52% of the stock is owned by institutional investors and hedge funds.

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.