Fitbit (FIT) - Get Report  shares jumped Friday afternoon after a report that the company is talking with an investment bank about possibly engaging potential buyers.

The stock is trading up 11% at $4.07.

Fitbit has faced challenges in switching focus to smartwatches from fitness trackers, Reuters reported.

People familiar with the matter told the news service that the San Francisco company is talking with tech-focused investment bank Qatalyst Partners about whether it should consider engaging possible suitors, the news service said.

Fitbit has not decided whether to pursue a sale as yet, the people told Reuters.