Beachbody (NYSE:BODI) Stock Price Down 0.5% – Time to Sell?

The Beachbody Company, Inc. (NYSE:BODI)’s stock price dropped 0.5% during mid-day trading on Monday . The stock traded as low as $3.53 and last traded at $3.63. Approximately 5,681 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 18,250 shares. The stock had previously closed at $3.65.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BODI. Roth Mkm reissued a “neutral” rating and issued a $7.00 price target (down from $12.00) on shares of Beachbody in a research note on Tuesday, April 1st. Roth Capital downgraded shares of Beachbody from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $13.00 price objective on shares of Beachbody in a research note on Friday, March 28th.

Beachbody Price Performance

The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average is $4.30 and its 200-day moving average is $5.97. The company has a market cap of $25.43 million, a PE ratio of -0.23 and a beta of 1.14.

Beachbody (NYSE:BODI) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.33) by $0.49. Beachbody had a negative net margin of 22.62% and a negative return on equity of 94.29%. On average, equities analysts anticipate that The Beachbody Company, Inc. will post -8.16 EPS for the current year.

Institutional Investors Weigh In On Beachbody

A number of institutional investors have recently made changes to their positions in the company. Whetstone Capital Advisors LLC grew its holdings in shares of Beachbody by 78.4% during the first quarter. Whetstone Capital Advisors LLC now owns 335,562 shares of the company’s stock valued at $2,513,000 after buying an additional 147,466 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Beachbody by 38.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 151,410 shares of the company’s stock valued at $931,000 after buying an additional 42,079 shares during the last quarter. Finally, Summit Financial LLC purchased a new stake in shares of Beachbody during the fourth quarter valued at approximately $104,000. Hedge funds and other institutional investors own 74.48% of the company’s stock.

Beachbody Company Profile

The Beachbody Company, Inc operates as a subscription health and wellness company that provides fitness, nutrition, and stress-reducing programs in the United States and internationally. The company operates Beachbody on Demand, a digital subscription platform that provides access to a library of live and on-demand fitness and nutrition content; and Beachbody on Demand Interactive (BODi) for live fitness and nutrition programs.