Interactive Strength Inc. (NASDAQ:TRNR) Short Interest Up 57.3% in August

Interactive Strength Inc. (NASDAQ:TRNR) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 35,238 shares, a growth of 57.3% from the August 15th total of 22,408 shares. Based on an average daily trading volume, of 12,716 shares, the days-to-cover ratio is presently 2.8 days. Currently, 2.2% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Interactive Strength from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Interactive Strength currently has a consensus rating of “Moderate Buy” and an average target price of $157.50.

Interactive Strength Price Performance

NASDAQ:TRNR opened at $2.88 on Friday. The company has a market capitalization of $4.67 million, a P/E ratio of -0.01 and a beta of 0.50. The business has a fifty day simple moving average of $3.12 and a two-hundred day simple moving average of $5.69. Interactive Strength has a 1 year low of $2.37 and a 1 year high of $263.90.

Interactive Strength (NASDAQ:TRNR) last posted its quarterly earnings results on Friday, August 14th. The company reported ($17.37) earnings per share for the quarter, topping the consensus estimate of ($19.67) by $2.30. The company had revenue of $6.65 million during the quarter, compared to the consensus estimate of $8.00 million. Interactive Strength had a negative return on equity of 469.40% and a negative net margin of 159.24%.

Interactive Strength Company Profile

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.