Short Interest in LifeMD, Inc. (NASDAQ:LFMD) Decreases By 16.7%

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 6,170,000 shares, a decrease of 16.7% from the March 31st total of 7,410,000 shares. Currently, 17.5% of the shares of the stock are short sold. Based on an average trading volume of 1,180,000 shares, the short-interest ratio is currently 5.2 days.

Wall Street Analysts Forecast Growth

LFMD has been the subject of a number of recent research reports. KeyCorp reduced their target price on shares of LifeMD from $10.00 to $7.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. HC Wainwright restated a "buy" rating and set a $14.00 target price on shares of LifeMD in a report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $15.00 price target on shares of LifeMD in a report on Tuesday, March 11th. Finally, B. Riley upgraded LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, LifeMD has an average rating of "Buy" and a consensus target price of $11.00.

Insider Buying and Selling at LifeMD

In other LifeMD news, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $7.55, for a total transaction of $377,500.00. Following the completion of the transaction, the chief executive officer now owns 2,653,715 shares of the company's stock, valued at $20,035,548.25. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Jessica Friedeman sold 30,000 shares of LifeMD stock in a transaction that occurred on Friday, March 14th. The stock was 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 directly owns 170,000 shares in the company, valued at $962,200. This represents a 15.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 151,995 shares of company stock valued at $1,101,922 over the last ninety days. Corporate insiders own 15.97% of the company's stock.

Institutional Trading of LifeMD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in shares of LifeMD by 522.9% in the 4th quarter. Marshall Wace LLP now owns 371,473 shares of the company's stock valued at $1,839,000 after buying an additional 311,841 shares during the period. Royce & Associates LP lifted its position in shares of LifeMD by 23.9% during the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company's stock worth $5,524,000 after purchasing an additional 214,950 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of LifeMD by 21.6% in the fourth 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. Renaissance Technologies LLC boosted its stake in shares of LifeMD by 45.2% in the fourth quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock valued at $2,524,000 after purchasing an additional 158,796 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of LifeMD by 825.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 158,423 shares of the company's stock valued at $784,000 after purchasing an additional 141,307 shares in the last quarter. Hedge funds and other institutional investors own 35.52% of the company's stock.

LifeMD Price Performance

Shares of LFMD stock traded up $0.41 during trading on Wednesday, hitting $8.17. 1,950,117 shares of the stock traded hands, compared to its average volume of 931,415. LifeMD has a 52-week low of $3.99 and a 52-week high of $12.88. The firm's fifty day moving average price is $5.66 and its 200-day moving average price is $5.61. The firm has a market capitalization of $359.22 million, a P/E ratio of -12.74 and a beta of 2.22.

LifeMD (NASDAQ:LFMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.05. The company had revenue of $65.70 million for the quarter, compared to analyst estimates of $62.47 million. As a group, equities research analysts expect that LifeMD will post -0.56 earnings per share 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.