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

Key Points

• LifeMD, Inc. experienced a significant increase in short interest, with the total short interest growing by 41.8% in August, now totaling 6,280,000 shares.
• Several analysts have adjusted their ratings for LifeMD, with HC Wainwright lowering their price target from $14.00 to $13.00 while the consensus price target stands at $13.17.
• Insider trading activity has escalated, with executives selling a total of 250,000 shares over the last quarter, indicating a 0.99% decrease in the CEO's position post-sale.

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totaling 6,280,000 shares, anincreaseof41.8% from the July 31st total of 4,430,000 shares. Based on an average daily trading volume, of 1,970,000 shares, the days-to-cover ratio is presently 3.2 days. Currently,16.6% of the shares of the stock are short sold. Currently,16.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,970,000 shares, the days-to-cover ratio is presently 3.2 days.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. HC Wainwright dropped their price objective on LifeMD from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Wall Street Zen cut shares of LifeMD from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Lake Street Capital decreased their price target on shares of LifeMD from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. BTIG Research increased their price objective on shares of LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Finally, KeyCorp decreased their target price on shares of LifeMD from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, LifeMD currently has an average rating of "Buy" and a consensus price target of $13.17.

LifeMD Trading Up 1.5%

Shares of LFMD traded up $0.09 during mid-day trading on Monday, reaching $6.15. 867,910 shares of the company were exchanged, compared to its average volume of 1,639,618. The stock has a market capitalization of $291.63 million, a PE ratio of -29.29 and a beta of 1.57. The business has a 50 day simple moving average of $9.11 and a two-hundred day simple moving average of $8.50. The company has a debt-to-equity ratio of 9.21, a quick ratio of 0.72 and a current ratio of 0.77. LifeMD has a 52 week low of $3.99 and a 52 week high of $15.84.

Insider Activity

In other news, CEO Justin Schreiber sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $13.38, for a total transaction of $334,500.00. Following the completion of the sale, the chief executive officer owned 2,500,721 shares of the company's stock, valued at approximately $33,459,646.98. This represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eric Harold Yecies sold 15,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $12.25, for a total transaction of $183,750.00. Following the sale, the insider owned 16,100 shares in the company, valued at $197,225. This represents a 48.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,000 shares of company stock valued at $3,252,800 over the last quarter. 18.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LifeMD

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of LifeMD in the 4th quarter valued at $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of LifeMD by 17.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,412 shares of the company's stock worth $235,000 after purchasing an additional 7,001 shares in the last quarter. Northern Trust Corp grew its stake in shares of LifeMD by 2.1% in the 4th quarter. Northern Trust Corp now owns 323,974 shares of the company's stock valued at $1,604,000 after buying an additional 6,634 shares during the period. Price T Rowe Associates Inc. MD increased its position in LifeMD by 26.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company's stock valued at $70,000 after buying an additional 2,895 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in LifeMD during the 4th quarter worth approximately $279,000. Institutional investors own 35.52% of the company's stock.

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.

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