Interactive Strength Inc. (NASDAQ:TRNR) Sees Significant Decrease in Short Interest

Interactive Strength Inc. (NASDAQ:TRNR) saw a significant decline in short interest in June. As of June 15th, there was short interest totaling 79,773 shares, a decline of 56.9% from the May 31st total of 185,165 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 270,242 shares, the short-interest ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

TRNR has been the subject of several research analyst reports. Wall Street Zen upgraded Interactive Strength to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings downgraded Interactive Strength from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $22.50.

Interactive Strength Trading Down 5.8%

TRNR opened at $0.55 on Monday. The firm has a market cap of $1.28 million, a P/E ratio of -0.01 and a beta of 0.50. Interactive Strength has a 12 month low of $0.44 and a 12 month high of $82.00. The company has a current ratio of 0.39, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average of $0.85 and a 200 day moving average of $4.22.

Interactive Strength’s stock is scheduled to reverse split before the market opens on Tuesday, June 30th. The 1-7 reverse split was announced on Friday, June 26th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, June 29th.

Interactive Strength (NASDAQ:TRNR) last posted its quarterly earnings data on Wednesday, May 20th. The company reported ($10.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($31.25) by $21.01. The business had revenue of $5.14 million during the quarter, compared to analyst estimates of $4.64 million. Interactive Strength had a negative return on equity of 260.54% and a negative net margin of 183.89%.

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.