LifeMD, Inc. (NASDAQ:LFMD) Short Interest Up 27.5% in March

LifeMD, Inc. (NASDAQ:LFMD) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 8,160,000 shares, a growth of 27.5% from the February 28th total of 6,400,000 shares. Currently, 23.6% of the company’s shares are sold short. Based on an average trading volume of 1,150,000 shares, the days-to-cover ratio is presently 7.1 days.

Wall Street Analysts Forecast Growth

LFMD has been the subject of a number of analyst reports. Lake Street Capital assumed coverage on shares of LifeMD in a report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price objective for the company. KeyCorp dropped their price objective on LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price target on shares of LifeMD in a report on Tuesday, March 11th. B. Riley raised LifeMD to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, HC Wainwright increased their target price on LifeMD from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, LifeMD has a consensus rating of “Buy” and a consensus price target of $11.43.

Insider Activity

In related news, CEO Justin Schreiber sold 25,000 shares of LifeMD stock in a transaction on Thursday, January 2nd. The stock was 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 of the company’s stock, valued at $14,032,280.85. The trade was a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Jessica Friedeman sold 30,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $5.66, for a total value of $169,800.00. Following the completion of the sale, the chief marketing officer now owns 170,000 shares of the company’s stock, valued at $962,200. This represents a 15.00 % 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 90 days. 15.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On LifeMD

Institutional investors and hedge funds have recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in LifeMD during the third quarter worth approximately $54,000. MetLife Investment Management LLC boosted its stake in shares of LifeMD by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 21,138 shares of the company’s stock worth $111,000 after acquiring an additional 11,910 shares during the period. Centiva Capital LP bought a new stake in LifeMD in the 3rd quarter valued at $196,000. State Street Corp lifted its holdings 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 last quarter. Finally, XTX Topco Ltd boosted its position in LifeMD by 306.8% during the third quarter. XTX Topco Ltd now owns 55,738 shares of the company’s stock worth $292,000 after purchasing an additional 42,037 shares during the period. 35.52% of the stock is owned by institutional investors.

LifeMD Price Performance

LFMD stock traded up $0.18 during mid-day trading on Wednesday, reaching $5.61. The company had a trading volume of 447,804 shares, compared to its average volume of 804,577. The company has a market capitalization of $250.12 million, a price-to-earnings ratio of -8.77 and a beta of 1.50. LifeMD has a 52 week low of $3.99 and a 52 week high of $12.88. The stock has a 50 day simple moving average of $5.85 and a two-hundred day simple moving average of $5.44.

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