Short Interest in Interactive Strength Inc. (NASDAQ:TRNR) Decreases By 43.2%

Interactive Strength Inc. (NASDAQ:TRNR) was the recipient of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 22,408 shares, a decrease of 43.2% from the July 30th total of 39,476 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily volume of 34,254 shares, the days-to-cover ratio is currently 0.7 days.

Interactive Strength Trading Down 4.4%

TRNR stock traded down $0.13 during midday trading on Tuesday, reaching $2.86. 1,571 shares of the company’s stock traded hands, compared to its average volume of 142,918. Interactive Strength has a 52-week low of $2.37 and a 52-week high of $302.25. The stock has a market cap of $4.63 million, a P/E ratio of -0.01 and a beta of 0.44. The stock’s 50-day moving average is $3.37 and its 200 day moving average is $7.40.

Interactive Strength (NASDAQ:TRNR) last announced its earnings results on Friday, August 14th. The company reported ($17.37) EPS for the quarter, topping analysts’ consensus estimates of ($19.67) by $2.30. Interactive Strength had a negative return on equity of 469.40% and a negative net margin of 159.24%.The company had revenue of $6.65 million for the quarter, compared to analysts’ expectations of $8.00 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Interactive Strength from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.50.

Interactive Strength Company Profile

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.