Beachbody (NASDAQ:BODI) Trading Down 1.3% – Time to Sell?

The Beachbody Company, Inc. (NASDAQ:BODI) fell 1.3% on Monday . The stock traded as low as $14.85 and last traded at $15.29. 118,905 shares were traded during mid-day trading, an increase of 52% from the average session volume of 78,367 shares. The stock had previously closed at $15.49.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BODI. Craig Hallum began coverage on Beachbody in a report on Monday, March 2nd. They issued a “buy” rating and a $15.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Beachbody in a report on Friday, March 27th. Wall Street Zen raised Beachbody from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. Zacks Research raised Beachbody from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Finally, Canaccord Genuity Group boosted their price target on Beachbody from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $13.50.

Beachbody Price Performance

The firm has a market capitalization of $109.78 million, a PE ratio of -32.53 and a beta of 0.85. The stock has a 50-day moving average price of $10.54 and a 200 day moving average price of $9.42. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.72.

Institutional Trading of Beachbody

A number of institutional investors and hedge funds have recently made changes to their positions in the business. North Star Investment Management Corp. purchased a new stake in shares of Beachbody in the first quarter valued at approximately $163,000. Bard Associates Inc. purchased a new stake in shares of Beachbody in the fourth quarter valued at approximately $32,000. State Street Corp purchased a new stake in shares of Beachbody in the fourth quarter valued at approximately $166,000. Jane Street Group LLC purchased a new stake in shares of Beachbody in the fourth quarter valued at approximately $140,000. Finally, Renaissance Technologies LLC increased its position in shares of Beachbody by 54.0% in the fourth quarter. Renaissance Technologies LLC now owns 52,769 shares of the company’s stock valued at $547,000 after buying an additional 18,505 shares in the last quarter. 74.48% of the stock is currently owned by hedge funds and other institutional investors.

About Beachbody

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.