Short Interest in The Beachbody Company, Inc. (NYSE:BODI) Drops By 6.8%

The Beachbody Company, Inc. (NYSE:BODI) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 155,300 shares, a decline of 6.8% from the November 15th total of 166,600 shares. Approximately 4.5% of the shares of the stock are short sold. Based on an average trading volume of 24,100 shares, the days-to-cover ratio is presently 6.4 days.

Hedge Funds Weigh In On Beachbody

A number of large investors have recently made changes to their positions in BODI. Mill Creek Capital Advisors LLC acquired a new position in shares of Beachbody in the 3rd quarter valued at about $186,000. MSA Advisors LLC acquired a new position in shares of Beachbody in the 3rd quarter valued at about $668,000. Whetstone Capital Advisors LLC acquired a new position in shares of Beachbody in the 3rd quarter valued at about $1,071,000. Rockefeller Capital Management L.P. acquired a new position in shares of Beachbody in the 3rd quarter valued at about $625,000. Finally, Raine Group LLC acquired a new position in shares of Beachbody in the 3rd quarter valued at about $25,000. Institutional investors and hedge funds own 74.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Roth Mkm restated a “buy” rating and set a $12.00 price objective on shares of Beachbody in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Beachbody has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Beachbody Trading Up 1.5 %

NYSE BODI traded up $0.10 on Tuesday, hitting $6.93. 3,220 shares of the company were exchanged, compared to its average volume of 20,725. The company’s 50 day moving average price is $6.46 and its 200-day moving average price is $7.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.64 and a quick ratio of 0.52. The firm has a market capitalization of $47.98 million, a P/E ratio of -0.42 and a beta of 1.16. Beachbody has a twelve month low of $5.14 and a twelve month high of $13.45.

About Beachbody

The Beachbody Company, Inc operates as a subscription health and wellness company that provides fitness, nutrition, and stress-reducing programs in the United States and internationally. The company operates Beachbody on Demand, a digital subscription platform that provides access to a library of live and on-demand fitness and nutrition content; and Beachbody on Demand Interactive (BODi) for live fitness and nutrition programs.