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

Interactive Strength Inc. (NASDAQ:TRNR) saw a large growth in short interest in 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. Based on an average daily trading volume, of 486,301 shares, the days-to-cover ratio is currently 0.3 days. Approximately 43.0% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Interactive Strength from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday, July 9th. One analyst has 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, Interactive Strength currently has an average rating of “Moderate Buy” and an average target price of $157.50.

Interactive Strength Stock Down 3.5%

NASDAQ TRNR traded down $0.11 on Monday, reaching $3.06. 15,658 shares of the stock traded hands, compared to its average volume of 165,261. Interactive Strength has a 12 month low of $2.37 and a 12 month high of $428.75. The company has a market cap of $1.01 million, a price-to-earnings ratio of -0.01 and a beta of 0.42. The company has a fifty day moving average price of $4.44 and a 200-day moving average price of $15.83. 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 posted its quarterly 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 business had revenue of $5.14 million for the quarter, compared to the consensus estimate of $4.64 million. Interactive Strength had a negative return on equity of 260.54% and a negative net margin of 183.89%.

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.