Beachbody Company Inc (The) (NYSE:BODY) Sees Significant Drop in Short Interest

Beachbody Company Inc (The) (NYSE:BODY) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 5,580,000 shares, a decline of 21.6% from the November 30th total of 7,120,000 shares. Based on an average daily volume of 2,030,000 shares, the short-interest ratio is presently 2.7 days. Approximately 3.8% of the shares of the company are sold short.

BODY has been the topic of several recent research reports. Loop Capital cut shares of Beachbody from a “hold” rating to a “sell” rating and set a $2.00 price objective on the stock. in a research note on Wednesday, November 17th. Guggenheim lowered shares of Beachbody from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 16th. Cantor Fitzgerald assumed coverage on shares of Beachbody in a research report on Wednesday, October 6th. They issued a “neutral” rating and a $6.50 price objective for the company. Finally, Robert W. Baird cut Beachbody from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $11.00 to $4.00 in a research report on Tuesday, November 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of 7.80.

Shares of BODY traded down 0.06 during trading hours on Friday, reaching 2.08. The company had a trading volume of 668,569 shares, compared to its average volume of 1,633,018. Beachbody has a 12-month low of 1.98 and a 12-month high of 18.20. The firm has a 50 day moving average of 3.04.

Beachbody (NYSE:BODY) last issued its earnings results on Monday, November 15th. The company reported -0.23 earnings per share (EPS) for the quarter. The business had revenue of 208.05 million for the quarter. As a group, equities analysts forecast that Beachbody will post -0.52 EPS for the current fiscal year.

About Beachbody

The Beachbody Company, Inc operates as a digital fitness and nutrition subscription company. It operates Beachbody, an on-demand streaming platform; Openfit, a live digital streaming platform; and Myx fitness, a fitness brand platform. As of March 31, 2021, the Company had 2.8 million total digital fitness subscribers, as well as peer-support system of approximately 400,000 influencers and coaches.

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