Interactive Strength (NASDAQ:TRNR) Shares to Reverse Split on Tuesday, June 30th

Shares of Interactive Strength Inc. (NASDAQ:TRNR) are set 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 Trading Up 8.6%

Shares of NASDAQ TRNR traded up $0.05 during trading hours on Friday, hitting $0.58. 467,609 shares of the company traded hands, compared to its average volume of 1,022,814. 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 12 month low of $0.44 and a 12 month high of $82.00. The stock has a market capitalization of $1.36 million, a price-to-earnings ratio of -0.01 and a beta of 0.50. The company’s 50 day moving average price is $0.86 and its 200 day moving average price is $4.37.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TRNR shares. Weiss Ratings cut Interactive Strength from a “sell (e+)” rating to a “sell (e)” rating in a research note on Thursday, June 18th. Wall Street Zen upgraded 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $22.50.

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.