LifeMD (NASDAQ:LFMD) Trading Down 0.7% – What’s Next?

LifeMD, Inc. (NASDAQ:LFMD) shares dropped 0.7% on Thursday . The company traded as low as $4.32 and last traded at $4.50. 557,355 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 902,418 shares. The stock had previously closed at $4.53.

Wall Street Analysts Forecast Growth

LFMD has been the subject of several recent research reports. BTIG Research reiterated a “buy” rating and set a $10.00 target price on shares of LifeMD in a report on Monday, May 4th. Weiss Ratings upgraded LifeMD from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. UBS Group reaffirmed a “buy” rating on shares of LifeMD in a research report on Wednesday, May 27th. Wall Street Zen cut LifeMD from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of LifeMD in a report on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, LifeMD currently has an average rating of “Moderate Buy” and a consensus price target of $9.14.

LifeMD Stock Down 7.8%

The firm has a market capitalization of $200.69 million, a PE ratio of 83.02 and a beta of 1.99. The firm’s fifty day simple moving average is $4.55 and its 200-day simple moving average is $3.97.

LifeMD (NASDAQ:LFMD) last issued its earnings results on Wednesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.06). The firm had revenue of $50.16 million during the quarter, compared to the consensus estimate of $48.84 million. LifeMD had a negative return on equity of 150.88% and a net margin of 2.37%. As a group, analysts predict that LifeMD, Inc. will post -0.37 earnings per share for the current year.

Institutional Trading of LifeMD

Several institutional investors have recently added to or reduced their stakes in LFMD. Bank of America Corp DE increased its holdings in shares of LifeMD by 10.1% in the 1st quarter. Bank of America Corp DE now owns 48,703 shares of the company’s stock worth $176,000 after purchasing an additional 4,465 shares in the last quarter. Sei Investments Co. bought a new position in shares of LifeMD during the first quarter valued at $148,000. State of Wyoming lifted its holdings in shares of LifeMD by 146.9% during the first quarter. State of Wyoming now owns 142,499 shares of the company’s stock valued at $514,000 after purchasing an additional 84,785 shares in the last quarter. R Squared Ltd purchased a new stake in shares of LifeMD during the first quarter valued at $41,000. Finally, Aristides Capital LLC purchased a new stake in shares of LifeMD during the fourth quarter valued at $203,000. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

LifeMD Company Profile

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.