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

LifeMD, Inc. (NASDAQ:LFMD) was the recipient of a large increase in short interest during the month of 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 shares of the company are sold short. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is presently 6.0 days.

Insider Activity at LifeMD

In other LifeMD news, CEO Justin Schreiber sold 50,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 2,653,715 shares of the company’s stock, valued at $20,035,548.25. The trade was a 1.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 105,000 shares of company stock worth $677,050 in the last ninety days. 15.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp lifted its position in 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 period. Royce & Associates LP lifted its position in LifeMD by 23.9% during the 4th quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock valued at $5,524,000 after purchasing an additional 214,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in LifeMD by 21.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock valued at $4,610,000 after purchasing an additional 165,378 shares during the period. Millennium Management LLC raised its position in shares of LifeMD by 17.1% in the 4th quarter. Millennium Management LLC now owns 885,987 shares of the company’s stock valued at $4,386,000 after acquiring an additional 129,327 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of LifeMD by 0.4% in 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. 35.52% of the stock is currently owned by institutional investors and hedge funds.

LifeMD Trading Down 3.9 %

NASDAQ LFMD traded down $0.23 on Monday, hitting $5.71. 1,491,039 shares of the company were exchanged, compared to its average volume of 798,591. The firm has a 50 day moving average of $5.68 and a two-hundred day moving average of $5.39. The company has a market cap of $254.57 million, a P/E ratio of -8.92 and a beta of 1.50. LifeMD has a 1-year low of $3.99 and a 1-year high of $12.88.

LifeMD (NASDAQ:LFMD) last released its earnings results on Monday, March 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $64.26 million for the quarter, compared to analyst estimates of $57.43 million. Research analysts anticipate that LifeMD will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

LFMD has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 target price on shares of LifeMD in a report on Tuesday, March 11th. B. Riley raised shares of LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. Lake Street Capital initiated coverage on shares of LifeMD in a report on Tuesday, December 10th. They issued a “buy” rating and a $12.00 target price on the stock. HC Wainwright upped their target price on shares of LifeMD from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Finally, Mizuho initiated coverage on shares of LifeMD in a report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 target price on the stock. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.