Beachbody (NYSE:BODI) Trading 5.4% Higher – Time to Buy?

The Beachbody Company, Inc. (NYSE:BODI) was up 5.4% during mid-day trading on Friday . The company traded as high as $7.57 and last traded at $7.33. Approximately 8,666 shares traded hands during trading, a decline of 54% from the average daily volume of 18,938 shares. The stock had previously closed at $6.95.

Wall Street Analysts Forecast Growth

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

Beachbody Trading Up 5.4 %

The business has a fifty day moving average price of $6.36 and a 200 day moving average price of $6.65. The firm has a market capitalization of $50.69 million, a price-to-earnings ratio of -0.47 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raine Capital LLC acquired a new stake in shares of Beachbody in the 3rd quarter valued at about $4,287,000. Raine Group LLC bought a new position in Beachbody during the 3rd quarter worth $25,000. Rockefeller Capital Management L.P. bought a new stake in Beachbody in the 3rd quarter valued at about $625,000. Whetstone Capital Advisors LLC acquired a new position in shares of Beachbody during the third quarter worth approximately $1,071,000. Finally, MSA Advisors LLC bought a new position in shares of Beachbody in the third quarter worth $668,000. 74.48% of the stock is currently owned by hedge funds and other institutional investors.

Beachbody Company Profile

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.