Short Interest in Interactive Strength Inc. (NASDAQ:TRNR) Drops By 43.2%

Interactive Strength Inc. (NASDAQ:TRNR) saw a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 22,408 shares, a decline of 43.2% from the July 30th total of 39,476 shares. Based on an average daily trading volume, of 34,254 shares, the short-interest ratio is currently 0.7 days. Currently, 1.4% of the company’s shares are sold short.

Interactive Strength Stock Performance

Shares of TRNR opened at $3.00 on Friday. The stock has a 50 day simple moving average of $3.39 and a 200 day simple moving average of $7.69. Interactive Strength has a 52-week low of $2.37 and a 52-week high of $302.25. The firm has a market capitalization of $4.86 million, a PE ratio of -0.01 and a beta of 0.44.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Interactive Strength from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $157.50.

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.