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

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

Insider Activity at LifeMD

In related news, CMO Jessica Friedeman sold 30,000 shares of the 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 completion of the sale, the chief marketing officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,653,715 shares of the company’s stock, 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. Insiders have sold 105,000 shares of company stock worth $677,050 in the last ninety days. Company insiders own 15.97% of the company’s stock.

Institutional Trading of LifeMD

Several institutional investors and hedge funds have recently modified their holdings of LFMD. Los Angeles Capital Management LLC raised its stake 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 worth $637,000 after purchasing an additional 108,822 shares during the last quarter. Royce & Associates LP raised its stake in shares of 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 last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of LifeMD by 6.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 765,916 shares of the company’s stock worth $4,013,000 after purchasing an additional 48,201 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of LifeMD in the third quarter worth approximately $54,000. Finally, Integrated Investment Consultants LLC purchased a new stake in shares of LifeMD in the third quarter worth approximately $129,000. 35.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LFMD shares. HC Wainwright increased their target price on LifeMD from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. Lake Street Capital initiated coverage on shares of LifeMD in a research note on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 target price on shares of LifeMD in a research note on Tuesday, March 11th. Mizuho assumed coverage on shares of LifeMD in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 target price for the company. Finally, B. Riley raised LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, LifeMD presently has an average rating of “Buy” and an average price target of $11.43.

LifeMD Stock Down 3.9 %

LFMD stock traded down $0.23 during midday trading on Monday, reaching $5.71. 1,491,039 shares of the company’s stock traded hands, compared to its average volume of 798,591. The firm’s fifty day moving average price is $5.68 and its 200-day moving average price is $5.39. LifeMD has a 52 week low of $3.99 and a 52 week high of $12.88. The company has a market cap of $254.57 million, a price-to-earnings ratio of -8.92 and a beta of 1.50.

LifeMD (NASDAQ:LFMD) last announced its quarterly earnings results on Monday, March 10th. The company reported ($0.02) earnings per share 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. Analysts forecast that LifeMD will post -0.56 earnings per share for the current year.

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.