Beachbody (NASDAQ:BODI) Research Coverage Started at Craig Hallum

Craig Hallum began coverage on shares of Beachbody (NASDAQ:BODI) in a research note released on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $15.00 price target on the stock.

BODI has been the subject of several other reports. Zacks Research downgraded shares of Beachbody from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Canaccord Genuity Group upped their price objective on shares of Beachbody from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Wall Street Zen raised shares of Beachbody to a “buy” rating in a research report on Saturday, December 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beachbody in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Beachbody has an average rating of “Hold” and a consensus target price of $10.33.

Beachbody Trading Down 3.9%

Shares of NASDAQ BODI opened at $8.34 on Monday. The business has a 50 day simple moving average of $9.74 and a 200 day simple moving average of $7.94. Beachbody has a 52 week low of $3.38 and a 52 week high of $12.66. The stock has a market cap of $59.13 million, a price-to-earnings ratio of -1.34 and a beta of 1.15. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.53 and a current ratio of 0.65.

Institutional Investors Weigh In On Beachbody

Hedge funds have recently bought and sold shares of the company. Bard Associates Inc. acquired a new stake in shares of Beachbody in the fourth quarter valued at about $32,000. Cruiser Capital Advisors LLC acquired a new position in shares of Beachbody during the 3rd quarter worth about $117,000. Jane Street Group LLC bought a new stake in Beachbody during the 4th quarter valued at approximately $140,000. State Street Corp acquired a new stake in Beachbody in the 4th quarter valued at approximately $166,000. Finally, Geode Capital Management LLC grew its holdings in Beachbody by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 32,503 shares of the company’s stock valued at $337,000 after buying an additional 1,125 shares during the last quarter. 74.48% of the stock is currently owned by institutional investors.

Beachbody Company Profile

Beachbody is a consumer-oriented health and fitness company based in Santa Monica, California. Founded in 1998 by Carl Daikeler and Jon Congdon, the company originally gained prominence through at-home workout programs distributed on DVD. Over time, Beachbody has transitioned much of its content delivery to a subscription-based digital platform, offering on-demand streaming of exercise routines, meal plans and wellness coaching.

The company’s portfolio includes a range of branded fitness programs—such as P90X, Insanity, 21 Day Fix and Body Beast—alongside nutrition and supplement products marketed under the Beachbody Nutrition brand.