Beachbody (NYSE:BODI) Trading 6.7% Higher – What’s Next?

Shares of The Beachbody Company, Inc. (NYSE:BODI) were up 6.7% on Tuesday . The company traded as high as $7.53 and last traded at $7.10. Approximately 18,195 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 15,274 shares. The stock had previously closed at $6.65.

Wall Street Analyst Weigh In

Separately, Roth Mkm reissued a “buy” rating and issued a $12.00 price objective on shares of Beachbody in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Beachbody Trading Up 6.7 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.64. The company has a 50-day simple moving average of $6.63 and a 200 day simple moving average of $6.53. The company has a market capitalization of $49.10 million, a P/E ratio of -0.45 and a beta of 1.17.

Institutional Trading of Beachbody

Institutional investors and hedge funds have recently modified their holdings of the company. MSA Advisors LLC bought a new stake in shares of Beachbody during the third quarter valued at approximately $668,000. Rockefeller Capital Management L.P. bought a new stake in shares of Beachbody during the third quarter valued at approximately $625,000. Whetstone Capital Advisors LLC bought a new stake in shares of Beachbody during the third quarter valued at approximately $1,071,000. Raine Capital LLC bought a new stake in shares of Beachbody during the third quarter valued at approximately $4,287,000. Finally, Summit Financial LLC bought a new stake in shares of Beachbody during the fourth quarter valued at approximately $104,000. 74.48% of the stock is currently owned by institutional investors.

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.