LifeMD (NASDAQ:LFMD) Trading Up 2.3% – Still a Buy?

LifeMD, Inc. (NASDAQ:LFMD)’s stock price shot up 2.3% during trading on Thursday . The company traded as high as $3.72 and last traded at $3.62. 963,188 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 1,024,055 shares. The stock had previously closed at $3.54.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of LifeMD in a research report on Monday, December 29th. BTIG Research dropped their target price on LifeMD from $18.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. KeyCorp decreased their price objective on shares of LifeMD from $12.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, November 19th. B. Riley decreased their price target on shares of LifeMD from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Finally, HC Wainwright cut their target price on LifeMD from $13.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $9.25.

LifeMD Stock Down 1.1%

The firm has a market capitalization of $172.34 million, a P/E ratio of -21.06 and a beta of 1.45. The business’s 50-day simple moving average is $3.70 and its 200 day simple moving average is $6.02.

LifeMD (NASDAQ:LFMD) last posted its quarterly earnings results on Monday, November 17th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The company had revenue of $60.17 million during the quarter, compared to the consensus estimate of $62.07 million. During the same quarter in the prior year, the firm earned $0.09 EPS. Sell-side analysts predict that LifeMD, Inc. will post -0.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, CMO Jessica Friedeman sold 15,000 shares of LifeMD stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $3.61, for a total value of $54,150.00. Following the completion of the sale, the chief marketing officer directly owned 205,000 shares in the company, valued at $740,050. The trade was a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 18.40% of the stock is owned by insiders.

Hedge Funds Weigh In On LifeMD

Institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in LifeMD by 148.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,656 shares of the company’s stock worth $50,000 after purchasing an additional 2,185 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in LifeMD by 110.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,674 shares of the company’s stock valued at $64,000 after acquiring an additional 2,452 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in LifeMD by 1,004.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 5,171 shares of the company’s stock valued at $70,000 after acquiring an additional 4,703 shares in the last quarter. Quarry LP bought a new stake in LifeMD in the third quarter valued at about $52,000. Finally, King Wealth Management Group acquired a new stake in shares of LifeMD during the 3rd quarter worth approximately $68,000. 35.52% of the stock is owned by institutional investors and hedge funds.

About LifeMD

LifeMD (NASDAQ: LFMD) is a U.S.-based telehealth company that delivers on-demand, membership-based virtual healthcare services. Through its digital platform and mobile applications, LifeMD connects patients with board-certified healthcare providers for diagnosis, treatment and ongoing management of a range of acute and chronic conditions. The company’s core offering centers on personalized care plans supported by prescription fulfillment, lab testing and prescription delivery services.

LifeMD’s service portfolio spans several specialty areas, including men’s health, hormonal therapy, weight management and primary care.