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

LifeMD, Inc. (NASDAQ:LFMD) was the target of a significant 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 days-to-cover ratio is currently 7.1 days.

LifeMD Stock Performance

Shares of NASDAQ:LFMD opened at $5.61 on Thursday. The firm has a market cap of $250.12 million, a price-to-earnings ratio of -8.77 and a beta of 1.50. The business has a 50-day simple moving average of $5.85 and a two-hundred day simple moving average of $5.44. LifeMD has a fifty-two week low of $3.99 and a fifty-two week high of $12.88.

LifeMD (NASDAQ:LFMD) last issued its earnings results on Monday, March 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The company had revenue of $64.26 million during the quarter, compared to analysts’ expectations of $57.43 million. As a group, research analysts predict that LifeMD will post -0.56 earnings per share for the current year.

Insider Activity at LifeMD

In other LifeMD news, CEO Justin Schreiber sold 50,000 shares of the company’s 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Jessica Friedeman sold 30,000 shares of LifeMD 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 transaction, the chief marketing officer now directly owns 170,000 shares in the company, valued at $962,200. This trade represents a 15.00 % 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 Trading of LifeMD

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

Analysts Set New Price Targets

Several research firms have recently commented on LFMD. B. Riley upgraded LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. HC Wainwright lifted their price target on LifeMD from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. KeyCorp cut their target price on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price target on shares of LifeMD in a research report on Tuesday, March 11th. Finally, Mizuho initiated coverage on LifeMD in a report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price objective for the company. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $11.43.

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.