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

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 sold short. Based on an average trading volume of 4,805,032 shares, the short-interest ratio is presently 0.0 days.

Interactive Strength Stock Down 5.8%

Shares of NASDAQ TRNR traded down $0.04 during mid-day trading on Thursday, reaching $0.58. 183,352 shares of the company’s stock were exchanged, compared to its average volume of 923,813. The business has a fifty day simple moving average of $1.02 and a 200 day simple moving average of $5.95. Interactive Strength has a twelve month low of $0.56 and a twelve month high of $91.00. The firm has a market capitalization of $1.35 million, a price-to-earnings ratio of -0.01 and a beta of 0.50. 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 (NASDAQ:TRNR) last announced its earnings results on Wednesday, May 20th. The company reported ($10.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($31.25) by $21.01. Interactive Strength had a negative return on equity of 260.54% and a negative net margin of 183.89%.The business had revenue of $5.14 million for the quarter, compared to analyst estimates of $4.64 million.

Analyst Upgrades and Downgrades

Several brokerages have commented on TRNR. Wall Street Zen upgraded shares of Interactive Strength to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings raised Interactive Strength from a “sell (e)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target 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.