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

Interactive Strength Inc. (NASDAQ:TRNR)’s stock is going to reverse split before the market opens on 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 closing bell on Monday, June 29th.

Interactive Strength Trading Up 8.6%

NASDAQ TRNR traded up $0.05 on Friday, hitting $0.58. The company’s stock had a trading volume of 467,609 shares, compared to its average volume of 1,022,814. The firm has a market cap of $1.36 million, a P/E ratio of -0.01 and a beta of 0.50. Interactive Strength has a 52-week low of $0.44 and a 52-week high of $82.00. The company’s 50-day simple moving average is $0.86 and its 200 day simple moving average is $4.37. The company has a current ratio of 0.39, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80.

Interactive Strength (NASDAQ:TRNR) last issued its quarterly earnings data on Wednesday, May 20th. The company reported ($10.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($31.25) by $21.01. Interactive Strength had a negative return on equity of 260.54% and a negative net margin of 183.89%.The firm had revenue of $5.14 million for the quarter, compared to analyst estimates of $4.64 million.

Analyst Upgrades and Downgrades

TRNR has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Interactive Strength to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings cut shares of Interactive Strength from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $22.50.

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.