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

Interactive Strength Inc. (NASDAQ:TRNR) was the recipient of a large 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. Based on an average daily trading volume, of 23,497 shares, the days-to-cover ratio is currently 1.7 days. Approximately 11.9% of the company’s stock are short sold.

Wall Street Analyst Weigh In

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

Interactive Strength Stock Down 10.3%

Shares of Interactive Strength stock traded down $0.41 on Friday, reaching $3.57. 179,676 shares of the company were exchanged, compared to its average volume of 20,748. The company has a market capitalization of $1.18 million, a price-to-earnings ratio of -0.01 and a beta of 0.44. The company has a current ratio of 0.39, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80. Interactive Strength has a one year low of $2.37 and a one year high of $315.00. The company has a 50-day moving average of $3.64 and a 200 day moving average of $9.88.

Interactive Strength (NASDAQ:TRNR) last released its earnings results on Friday, August 14th. The company reported ($17.37) earnings per share for the quarter, beating the consensus estimate of ($19.67) by $2.30. Interactive Strength had a negative net margin of 183.89% and a negative return on equity of 260.54%. The business had revenue of $6.65 million during the quarter, compared to analysts’ expectations of $8.00 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.