The Beachbody Co Inc BODY is trading higher Tuesday following a 13F filing from David Einhorn's Greenlight Capital which showed a new stake in the company.
Last week, Beachbody reported a second-quarter net loss of $12.4 million versus a loss of $10 million in the same quarter last year. The company reported quarterly revenue of $223.1 million, which came in below the estimate of $260.15 million.
Beachbody said it expects full-year 2021 revenue to be in a range of $930 million to $960 million versus the estimate of $1.1 billion.
DA Davidson analyst Linda Bolton Weiser maintained Beachbody with a Buy rating and lowered the price target from $14.50 to $11.50.
Beachbody offers streaming and live fitness and nutrition programs, as well as fitness and nutrition products.
Price Action: Beachbody has traded as high as $13.50 and as low as $6.88 since it went public in June.
At last check Tuesday, the stock was up 7.34% at $7.67.
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