Short Interest in Interactive Strength Inc. (NASDAQ:TRNR) Decreases By 72.4%

Interactive Strength Inc. (NASDAQ:TRNR) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totaling 39,476 shares, a decline of 72.4% from the July 15th total of 143,133 shares. Approximately 11.9% of the company’s stock are short sold. Based on an average trading volume of 23,497 shares, the days-to-cover ratio is currently 1.7 days.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Interactive Strength from a “sell (e+)” rating to a “sell (e)” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Interactive Strength currently has an average rating of “Moderate Buy” and an average price target of $157.50.

Interactive Strength Trading Up 1.2%

NASDAQ:TRNR opened at $3.79 on Thursday. The stock has a market capitalization of $1.26 million, a price-to-earnings ratio of -0.01 and a beta of 0.44. Interactive Strength has a 52 week low of $2.37 and a 52 week high of $315.00. The company has a quick ratio of 0.26, a current ratio of 0.39 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $3.71 and a 200 day moving average of $10.21.

Interactive Strength (NASDAQ:TRNR) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($10.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($218.75) by $208.51. Interactive Strength had a negative net margin of 183.89% and a negative return on equity of 260.54%. The business had revenue of $5.14 million for the quarter, compared to analyst estimates of $4.64 million.

About Interactive Strength

Interactive Strength Inc, doing business as FORME, operates digital fitness platform that provides connected fitness hardware products and related accessories in the United States. The company offers the Forme Studio, a fitness mirror with touchscreen display; and the Forme Studio Lift, a fitness mirror and cable-based digital resistance. It also provides video on-demand classes, and personal training and expert health coaching services. The company sells its products through retail stores, as well as online.