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

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

Insider Buying and Selling

In other LifeMD news, CMO Jessica Friedeman sold 30,000 shares of LifeMD stock in a transaction that occurred 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 transaction, the chief marketing officer now directly owns 170,000 shares of the company's stock, valued at $962,200. The trade was a 15.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Justin Schreiber sold 21,995 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $7.53, for a total transaction of $165,622.35. Following the completion of the sale, the chief executive officer now directly owns 2,553,726 shares of the company's stock, valued at $19,229,556.78. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 151,995 shares of company stock valued at $1,101,922. 15.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LifeMD

Several hedge funds have recently modified their holdings of LFMD. GAMMA Investing LLC purchased a new stake in LifeMD during the first quarter valued at about $35,000. CWM LLC lifted its position in shares of LifeMD by 17.5% in the 1st quarter. CWM LLC now owns 9,050 shares of the company's stock valued at $49,000 after acquiring an additional 1,351 shares in the last quarter. ProShare Advisors LLC acquired a new position in LifeMD in the 4th quarter worth approximately $51,000. Oxford Asset Management LLP purchased a new position in LifeMD during the 4th quarter worth approximately $52,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of LifeMD in the fourth quarter valued at $52,000. 35.52% of the stock is owned by hedge funds and other institutional investors.

LifeMD Stock Performance

Shares of LFMD traded up $0.22 during midday trading on Tuesday, hitting $7.76. 2,334,774 shares of the stock traded hands, compared to its average volume of 925,580. The firm has a market capitalization of $341.19 million, a PE ratio of -12.13 and a beta of 2.22. The business's 50 day moving average price is $5.61 and its two-hundred day moving average price is $5.59. LifeMD has a 1-year low of $3.99 and a 1-year high of $12.88.

LifeMD (NASDAQ:LFMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. As a group, equities research analysts forecast that LifeMD will post -0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.