LifeMD, Inc. (NASDAQ:LFMD) Short Interest Up 12.9% in July

LifeMD, Inc. (NASDAQ:LFMD) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 4,450,000 shares, a growth of 12.9% from the July 15th total of 3,940,000 shares. Approximately 13.2% of the shares of the company are sold short. Based on an average daily trading volume, of 895,300 shares, the days-to-cover ratio is presently 5.0 days.

LifeMD Stock Performance

NASDAQ:LFMD traded up $0.14 during mid-day trading on Friday, reaching $5.21. The stock had a trading volume of 371,523 shares, compared to its average volume of 830,827. LifeMD has a twelve month low of $3.46 and a twelve month high of $12.88. The business has a 50 day simple moving average of $6.66 and a 200 day simple moving average of $8.13. The firm has a market capitalization of $217.55 million, a price-to-earnings ratio of -7.04 and a beta of 1.24. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.94 and a current ratio of 0.99.

LifeMD (NASDAQ:LFMD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.06). The firm had revenue of $50.66 million during the quarter, compared to analyst estimates of $48.47 million. During the same period in the prior year, the company earned ($0.23) earnings per share. On average, analysts expect that LifeMD will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LifeMD

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. purchased a new stake in LifeMD during the fourth quarter worth about $173,000. Russell Investments Group Ltd. acquired a new stake in shares of LifeMD in the 4th quarter worth approximately $153,000. Thompson Davis & CO. Inc. purchased a new position in LifeMD in the 4th quarter valued at approximately $117,000. Jump Financial LLC increased its stake in LifeMD by 50.2% in the 4th quarter. Jump Financial LLC now owns 111,738 shares of the company’s stock valued at $926,000 after purchasing an additional 37,339 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in LifeMD during the fourth quarter worth $815,000. 35.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on LFMD shares. B. Riley reaffirmed a “buy” rating and issued a $12.00 target price on shares of LifeMD in a report on Tuesday, May 21st. BTIG Research increased their target price on shares of LifeMD from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. KeyCorp lowered their price target on LifeMD from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of LifeMD in a research note on Friday, May 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 target price on shares of LifeMD in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, LifeMD has a consensus rating of “Buy” and an average target price of $12.17.

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.