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

LifeMD, Inc. (NASDAQ:LFMD) was the recipient of a significant growth in short interest in 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. Approximately 18.8% of the company’s stock are short sold. 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 other LifeMD news, 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 completion of the sale, the chief marketing officer now owns 170,000 shares in the company, valued at $962,200. The trade was a 15.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Justin Schreiber sold 50,000 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $7.55, for a total transaction of $377,500.00. Following the transaction, the chief executive officer now owns 2,653,715 shares of the company’s stock, valued at $20,035,548.25. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 105,000 shares of company stock valued at $677,050 over the last ninety days. Corporate insiders own 15.97% of the company’s stock.

Institutional Trading of LifeMD

Hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in LifeMD during the third quarter valued at about $54,000. ProShare Advisors LLC purchased a new stake in LifeMD during the fourth quarter valued at about $51,000. Balyasny Asset Management L.P. purchased a new stake in LifeMD during the fourth quarter valued at about $52,000. Oxford Asset Management LLP acquired a new position in shares of LifeMD in the 4th quarter valued at about $52,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of LifeMD in the 4th quarter valued at about $56,000. 35.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LFMD. HC Wainwright upped their price objective on shares of LifeMD from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Mizuho began coverage on shares of LifeMD in a report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 price objective on shares of LifeMD in a report on Tuesday, March 11th. KeyCorp cut their price target 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. Finally, B. Riley raised shares of LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. One investment 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 MarketBeat, LifeMD has a consensus rating of “Buy” and a consensus target price of $11.43.

LifeMD Stock Performance

NASDAQ LFMD traded down $0.06 on Tuesday, reaching $5.65. The company’s stock had a trading volume of 875,740 shares, compared to its average volume of 802,164. LifeMD has a twelve month low of $3.99 and a twelve month high of $12.88. The stock has a market cap of $251.90 million, a PE ratio of -8.83 and a beta of 1.50. The firm’s 50 day moving average is $5.68 and its two-hundred day moving average is $5.40.

LifeMD (NASDAQ:LFMD) last posted its quarterly earnings data on Monday, March 10th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $64.26 million for the quarter, compared to analysts’ expectations of $57.43 million. Equities research analysts anticipate that LifeMD will post -0.56 EPS for the current fiscal year.

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.