Interactive Strength (NASDAQ:TRNR) Stock Price Down 6.9% – Here’s Why

Interactive Strength Inc. (NASDAQ:TRNR)’s stock price was down 6.9% during trading on Wednesday . The stock traded as low as $0.4321 and last traded at $0.45. Approximately 132,114 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 2,735,956 shares. The stock had previously closed at $0.4836.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TRNR. Maxim Group set a $2.25 target price on Interactive Strength in a research report on Friday, January 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Interactive Strength in a report on Monday, December 29th. Finally, Aegis raised shares of Interactive Strength to a “strong-buy” rating in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $2.25.

Interactive Strength Trading Down 6.9%

The company has a current ratio of 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 2.29. The business has a 50 day simple moving average of $1.23 and a two-hundred day simple moving average of $2.73. The stock has a market cap of $2.36 million, a price-to-earnings ratio of -0.02 and a beta of 0.30.

Interactive Strength (NASDAQ:TRNR) last released its earnings results on Friday, November 14th. The company reported ($3.11) EPS for the quarter, beating the consensus estimate of ($4.90) by $1.79. Interactive Strength had a negative return on equity of 152.27% and a negative net margin of 202.03%.The company had revenue of $4.82 million during the quarter, compared to analysts’ expectations of $12.00 million.

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.