LifeMD, Inc. (NASDAQ:LFMD) Sees Large Increase in Short Interest

LifeMD, Inc. (NASDAQ:LFMD) was the target of a large increase in short interest in 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. Currently, 18.8% of the company’s stock are short sold. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is currently 6.0 days.

LifeMD Trading Down 1.1 %

LFMD traded down $0.06 during trading hours on Tuesday, hitting $5.65. 875,740 shares of the company’s stock were exchanged, compared to its average volume of 802,164. LifeMD has a 12-month low of $3.99 and a 12-month high of $12.88. The firm has a 50 day moving average of $5.68 and a 200 day moving average of $5.40. The firm has a market cap of $251.90 million, a P/E ratio of -8.83 and a beta of 1.50.

LifeMD (NASDAQ:LFMD) last issued its earnings results 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 company had revenue of $64.26 million during the quarter, compared to analyst estimates of $57.43 million. As a group, research analysts expect that LifeMD will post -0.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on LFMD shares. Lake Street Capital started coverage on shares of LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 target price on the stock. B. Riley upgraded shares of LifeMD to a “strong-buy” rating in a research report on Tuesday, March 11th. KeyCorp decreased their target price on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. 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. Finally, Mizuho initiated coverage on shares of LifeMD in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $11.43.

Insider Buying and Selling at LifeMD

In related news, CEO Justin Schreiber sold 50,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 2,653,715 shares in the company, valued at $20,035,548.25. The trade was a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Jessica Friedeman sold 30,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $5.66, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,000 shares of company stock valued at $677,050. 15.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LifeMD

A number of large investors have recently added to or reduced their stakes in LFMD. Prudential Financial Inc. boosted its stake in shares of LifeMD by 19.3% during the 4th quarter. Prudential Financial Inc. now owns 13,605 shares of the company’s stock worth $67,000 after purchasing an additional 2,200 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of LifeMD by 6.1% during the 4th quarter. Rhumbline Advisers now owns 48,689 shares of the company’s stock worth $241,000 after purchasing an additional 2,814 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of LifeMD by 26.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company’s stock worth $70,000 after acquiring an additional 2,895 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of LifeMD by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock worth $4,071,000 after acquiring an additional 2,984 shares during the last quarter. Finally, Magnus Financial Group LLC boosted its position in shares of LifeMD by 31.1% in the fourth quarter. Magnus Financial Group LLC now owns 16,000 shares of the company’s stock worth $79,000 after acquiring an additional 3,792 shares during the last quarter. 35.52% of the stock is owned by institutional investors and hedge funds.

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.