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

LifeMD, Inc. (NASDAQ:LFMD) was the recipient of a large increase in short interest during the month of 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. Currently, 23.6% of the shares of the stock are sold short. Based on an average trading volume of 1,150,000 shares, the short-interest ratio is currently 7.1 days.

LifeMD Stock Performance

Shares of LFMD stock opened at $5.44 on Tuesday. The firm has a market capitalization of $242.54 million, a price-to-earnings ratio of -8.50 and a beta of 1.50. LifeMD has a one year low of $3.99 and a one year high of $12.88. The company has a 50 day moving average price of $5.84 and a 200 day moving average price of $5.44.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings data on Monday, March 10th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $64.26 million for the quarter, compared to analyst estimates of $57.43 million. As a group, equities analysts forecast that LifeMD will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on LFMD. Mizuho started coverage on LifeMD in a research note on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price objective on the stock. HC Wainwright lifted their price target on shares of LifeMD from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price objective on shares of LifeMD in a research report on Tuesday, March 11th. B. Riley upgraded shares of LifeMD to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, KeyCorp cut their price target on LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One equities research 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 stock. According to MarketBeat, LifeMD currently has an average rating of “Buy” and an average price target of $11.43.

Insider Buying and Selling at LifeMD

In related 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 value of $169,800.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Justin Schreiber sold 50,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $7.55, for a total value of $377,500.00. Following the transaction, the chief executive officer now directly owns 2,653,715 shares of the company’s stock, valued at $20,035,548.25. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 105,000 shares of company stock worth $677,050. 15.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LifeMD

A number of large investors have recently modified their holdings of LFMD. State Street Corp increased its position in LifeMD by 20.0% during the 3rd quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after purchasing an additional 192,861 shares in the last quarter. Royce & Associates LP grew its stake in LifeMD by 23.9% during the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock worth $5,524,000 after buying an additional 214,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of LifeMD by 21.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock valued at $4,610,000 after acquiring an additional 165,378 shares during the period. Millennium Management LLC lifted its holdings in shares of LifeMD by 17.1% during the 4th quarter. Millennium Management LLC now owns 885,987 shares of the company’s stock valued at $4,386,000 after acquiring an additional 129,327 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in LifeMD by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock worth $4,071,000 after purchasing an additional 2,984 shares during the period. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

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.