Interactive Strength Inc. (NASDAQ:TRNR) Sees Large Increase in Short Interest

Interactive Strength Inc. (NASDAQ:TRNR) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 143,133 shares, a growth of 225.5% from the June 30th total of 43,979 shares. Approximately 43.0% of the company’s shares are short sold. Based on an average daily volume of 486,301 shares, the days-to-cover ratio is currently 0.3 days.

Interactive Strength Trading Down 1.8%

NASDAQ:TRNR opened at $3.00 on Tuesday. The firm’s fifty day moving average is $4.35 and its 200-day moving average is $15.32. Interactive Strength has a 52 week low of $2.37 and a 52 week high of $395.50. The firm has a market cap of $991,650.00, a P/E ratio of -0.01 and a beta of 0.42. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 0.39.

Interactive Strength (NASDAQ:TRNR) last issued its earnings results on Wednesday, May 20th. The company reported ($10.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($218.75) by $208.51. The company had revenue of $5.14 million for the quarter, compared to analysts’ expectations of $4.64 million. Interactive Strength had a negative return on equity of 260.54% and a negative net margin of 183.89%.

Analyst Ratings Changes

Separately, Weiss Ratings raised Interactive Strength from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.50.

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.