Interactive Strength Inc. (NASDAQ:TRNR) Short Interest Down 56.9% in June

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

Wall Street Analyst Weigh In

Several analysts have weighed in on TRNR shares. Weiss Ratings lowered shares of Interactive Strength from a “sell (e+)” rating to a “sell (e)” rating in a research note on Thursday, June 18th. Wall Street Zen raised shares of Interactive Strength to a “hold” rating in a report on Saturday, March 7th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $157.50.

Interactive Strength Stock Performance

NASDAQ TRNR traded down $0.20 during trading hours on Wednesday, hitting $4.51. The company had a trading volume of 29,450 shares, compared to its average volume of 145,511. Interactive Strength has a fifty-two week low of $3.08 and a fifty-two week high of $574.00. The firm has a market cap of $10.51 million, a P/E ratio of -0.07 and a beta of 0.50. 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 business has a fifty day simple moving average of $5.80 and a 200-day simple moving average of $27.70.

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 analysts’ consensus estimates 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 analysts’ expectations of $4.64 million.

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.