Short Interest in Interactive Strength Inc. (NASDAQ:TRNR) Rises By 225.3%

Interactive Strength Inc. (NASDAQ:TRNR) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 185,165 shares, a growth of 225.3% from the May 14th total of 56,913 shares. Approximately 8.0% of the company’s shares are short sold. Based on an average daily volume of 4,805,032 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analyst Weigh In

TRNR has been the topic of several recent research reports. Weiss Ratings raised shares of Interactive Strength from a “sell (e)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Wall Street Zen raised shares of Interactive Strength to a “hold” rating in a research note on Saturday, March 7th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $22.50.

Interactive Strength Trading Down 0.6%

Shares of NASDAQ TRNR traded down $0.00 during mid-day trading on Friday, hitting $0.58. The company’s stock had a trading volume of 230,448 shares, compared to its average volume of 2,404,101. The stock has a market cap of $1.34 million, a price-to-earnings ratio of -0.01 and a beta of 0.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.39 and a quick ratio of 0.26. Interactive Strength has a one year low of $0.54 and a one year high of $82.00. The company’s fifty day simple moving average is $0.99 and its 200-day simple moving average is $5.76.

Interactive Strength (NASDAQ:TRNR) last released its quarterly earnings data on Wednesday, May 20th. The company reported ($10.24) earnings per share for the quarter, topping the consensus estimate of ($31.25) by $21.01. 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.