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

Shares of Interactive Strength Inc. (NASDAQ:TRNR) are set to reverse split on the morning of 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 closing bell on Monday, June 29th.

Interactive Strength Stock Up 8.6%

Shares of NASDAQ:TRNR traded up $0.05 during midday trading on Friday, reaching $0.58. The company’s stock had a trading volume of 467,609 shares, compared to its average volume of 1,022,814. 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 firm has a 50 day moving average of $0.86 and a 200-day moving average of $4.37. The firm has a market capitalization of $1.36 million, a P/E ratio of -0.01 and a beta of 0.50. Interactive Strength has a 12-month low of $0.44 and a 12-month high of $82.00.

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

Analysts Set New Price Targets

Several research analysts have issued reports on TRNR shares. Wall Street Zen raised shares of Interactive Strength to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings cut shares of Interactive Strength from a “sell (e+)” rating to a “sell (e)” rating in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average 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.