Craig Hallum Initiates Coverage on Beachbody (NASDAQ:BODI)

Craig Hallum assumed coverage on shares of Beachbody (NASDAQ:BODI) in a research report issued on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. Craig Hallum’s target price suggests a potential upside of 72.81% from the stock’s current price.

BODI has been the topic of several other reports. Zacks Research downgraded Beachbody from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Wall Street Zen raised shares of Beachbody to a “buy” rating in a research report on Saturday, December 27th. Canaccord Genuity Group upped their target price on shares of Beachbody from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Beachbody in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Beachbody presently has a consensus rating of “Hold” and an average price target of $10.33.

Beachbody Price Performance

NASDAQ BODI opened at $8.68 on Monday. Beachbody has a twelve month low of $3.38 and a twelve month high of $12.66. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.53 and a current ratio of 0.65. The stock has a market capitalization of $61.54 million, a PE ratio of -1.40 and a beta of 1.15. The stock has a 50-day simple moving average of $9.79 and a 200 day simple moving average of $7.94.

Institutional Investors Weigh In On Beachbody

Several institutional investors and hedge funds have recently bought and sold shares of BODI. Geode Capital Management LLC raised its stake in shares of Beachbody by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 32,503 shares of the company’s stock valued at $337,000 after buying an additional 1,125 shares in the last quarter. Bard Associates Inc. bought a new stake in Beachbody in the fourth quarter valued at about $32,000. Jane Street Group LLC bought a new stake in Beachbody in the fourth quarter valued at about $140,000. State Street Corp acquired a new position in Beachbody in the fourth quarter worth about $166,000. Finally, Renaissance Technologies LLC lifted its stake in Beachbody by 54.0% during the fourth quarter. Renaissance Technologies LLC now owns 52,769 shares of the company’s stock worth $547,000 after purchasing an additional 18,505 shares during the period. Institutional investors own 74.48% of the company’s stock.

About Beachbody

Beachbody is a consumer-oriented health and fitness company based in Santa Monica, California. Founded in 1998 by Carl Daikeler and Jon Congdon, the company originally gained prominence through at-home workout programs distributed on DVD. Over time, Beachbody has transitioned much of its content delivery to a subscription-based digital platform, offering on-demand streaming of exercise routines, meal plans and wellness coaching.

The company’s portfolio includes a range of branded fitness programs—such as P90X, Insanity, 21 Day Fix and Body Beast—alongside nutrition and supplement products marketed under the Beachbody Nutrition brand.