LifeMD, Inc. (NASDAQ:LFMD) Short Interest Update

LifeMD, Inc. (NASDAQ:LFMD) saw a large growth in short interest in 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. Based on an average trading volume of 1,150,000 shares, the days-to-cover ratio is presently 7.1 days. Currently, 23.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LFMD. Lake Street Capital began coverage on LifeMD in a report on Tuesday, December 10th. They issued a “buy” rating and a $12.00 price target on the stock. 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. Mizuho started coverage on shares of LifeMD in a report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price target on the stock. HC Wainwright increased their price objective on shares of LifeMD from $12.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, March 12th. Finally, B. Riley raised LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. One 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $11.43.

Insider Buying and Selling

In other LifeMD news, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction 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 in the company, valued at approximately $20,035,548.25. This represents a 1.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Jessica Friedeman sold 30,000 shares of the business’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 transaction, 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 disclosure for this sale can be found here. 15.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LifeMD

Large investors have recently made changes to their positions in the company. Prudential Financial Inc. grew its holdings in shares of LifeMD by 19.3% in the fourth quarter. Prudential Financial Inc. now owns 13,605 shares of the company’s stock worth $67,000 after purchasing an additional 2,200 shares during the last quarter. Rhumbline Advisers lifted its position in LifeMD by 6.1% during the fourth quarter. Rhumbline Advisers now owns 48,689 shares of the company’s stock valued at $241,000 after acquiring an additional 2,814 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in LifeMD by 26.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company’s stock worth $70,000 after purchasing an additional 2,895 shares during the last quarter. Geode Capital Management LLC raised its stake in LifeMD by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock valued at $4,071,000 after buying an additional 2,984 shares during the last quarter. Finally, Magnus Financial Group LLC boosted its holdings in LifeMD by 31.1% in the fourth quarter. Magnus Financial Group LLC now owns 16,000 shares of the company’s stock worth $79,000 after acquiring an additional 3,792 shares in the last quarter. 35.52% of the stock is owned by hedge funds and other institutional investors.

LifeMD Price Performance

Shares of LFMD stock opened at $5.61 on Thursday. The company has a market cap of $250.12 million, a PE ratio of -8.77 and a beta of 1.50. LifeMD has a 1 year low of $3.99 and a 1 year high of $12.88. The stock’s 50 day simple moving average is $5.85 and its two-hundred day simple moving average is $5.44.

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

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.