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

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

Insiders Place Their Bets

In other news, CEO Justin Schreiber sold 25,000 shares of LifeMD stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.19, for a total transaction of $129,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,703,715 shares in the company, valued at approximately $14,032,280.85. The trade was a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Jessica Friedeman sold 30,000 shares of LifeMD stock in a transaction 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 sale, the chief marketing officer now owns 170,000 shares of the company’s stock, valued at $962,200. The trade was a 15.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LFMD. ProShare Advisors LLC purchased a new position in LifeMD in the fourth quarter valued at $51,000. Oxford Asset Management LLP purchased a new stake in shares of LifeMD during the fourth quarter worth about $52,000. Balyasny Asset Management L.P. purchased a new stake in shares of LifeMD during the fourth quarter worth about $52,000. Intech Investment Management LLC purchased a new stake in shares of LifeMD during the third quarter worth about $54,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of LifeMD during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 35.52% of the company’s stock.

LifeMD Stock Performance

LFMD opened at $5.65 on Wednesday. LifeMD has a fifty-two week low of $3.99 and a fifty-two week high of $12.88. The company has a fifty day moving average of $5.68 and a two-hundred day moving average of $5.40. The stock has a market capitalization of $251.90 million, a price-to-earnings ratio of -8.83 and a beta of 1.50.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings data on Monday, March 10th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $64.26 million during the quarter, compared to analysts’ expectations of $57.43 million. On average, equities research analysts forecast that LifeMD will post -0.56 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on LFMD. Mizuho began coverage on shares of LifeMD in a research note on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price objective for the company. B. Riley upgraded shares of LifeMD to a “strong-buy” rating in a research report on Tuesday, March 11th. HC Wainwright boosted their target price on shares of LifeMD from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Lake Street Capital assumed coverage on shares of LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $15.00 target price on shares of LifeMD in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, LifeMD has a consensus rating of “Buy” and a consensus target price 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.