Interactive Strength Inc. (NASDAQ:TRNR) Short Interest Down 56.9% in June

Interactive Strength Inc. (NASDAQ:TRNR) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 79,773 shares, a drop of 56.9% from the May 31st total of 185,165 shares. Based on an average trading volume of 270,242 shares, the short-interest ratio is presently 0.3 days. Currently, 3.4% of the shares of the company are short sold.

Interactive Strength Trading Down 5.8%

Interactive Strength stock opened at $0.55 on Monday. Interactive Strength has a 1 year low of $0.44 and a 1 year high of $82.00. The firm’s 50 day moving average price is $0.85 and its 200-day moving average price is $4.22. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.39 and a quick ratio of 0.26. The stock has a market cap of $1.28 million, a P/E ratio of -0.01 and a beta of 0.50.

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

Analyst Ratings Changes

A number of research firms have weighed in on TRNR. Weiss Ratings lowered shares of Interactive Strength from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, June 18th. Wall Street Zen upgraded shares of Interactive Strength to a “hold” rating in a research note on Saturday, March 7th. Two analysts have 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, the stock presently has an average rating of “Buy” and a consensus target price 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.