Interactive Strength Shares to Reverse Split on Tuesday, June 30th (NASDAQ:TRNR)

Interactive Strength Inc. (NASDAQ:TRNR) shares are going to reverse split on the morning of 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 market closes on Monday, June 29th.

Interactive Strength Price Performance

NASDAQ TRNR traded up $0.05 on Friday, reaching $0.58. The company’s stock had a trading volume of 467,609 shares, compared to its average volume of 1,022,814. Interactive Strength has a twelve month low of $0.44 and a twelve month high of $82.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 0.39. The firm’s 50 day moving average is $0.86 and its two-hundred day moving average is $4.37. The stock has a market cap of $1.36 million, a PE ratio of -0.01 and a beta of 0.50.

Interactive Strength (NASDAQ:TRNR) last posted its quarterly earnings data on Wednesday, May 20th. The company reported ($10.24) earnings per share for the quarter, beating the consensus estimate of ($31.25) by $21.01. The company 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 Upgrades and Downgrades

Several research analysts have issued reports on the stock. 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 Interactive Strength to a “hold” rating in a research report on Saturday, March 7th. Two research analysts have 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 presently has a consensus rating of “Buy” and an average target price of $22.50.

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.