Short Interest in Traeger, Inc. (NYSE:COOK) Declines By 6.1%

Traeger, Inc. (NYSE:COOK) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 1,530,000 shares, a decrease of 6.1% from the September 30th total of 1,630,000 shares. Based on an average daily trading volume, of 263,900 shares, the short-interest ratio is presently 5.8 days. Currently, 2.7% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of research analysts have weighed in on COOK shares. Robert W. Baird upped their price objective on shares of Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada upped their price target on Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Telsey Advisory Group reissued an “outperform” rating and issued a $4.00 price objective on shares of Traeger in a report on Wednesday. Finally, Piper Sandler upgraded Traeger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3.30.

Hedge Funds Weigh In On Traeger

Several institutional investors have recently modified their holdings of COOK. Norden Group LLC purchased a new position in Traeger in the first quarter valued at $118,000. Empowered Funds LLC grew its position in shares of Traeger by 398.0% during the first quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock worth $325,000 after buying an additional 102,689 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Traeger during the first quarter worth approximately $27,000. Panagora Asset Management Inc. raised its holdings in Traeger by 19.4% in the second quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock valued at $438,000 after acquiring an additional 29,694 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Traeger by 56.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock worth $484,000 after acquiring an additional 72,637 shares in the last quarter. Institutional investors and hedge funds own 46.84% of the company’s stock.

Traeger Trading Up 2.3 %

NYSE:COOK traded up $0.07 on Friday, hitting $3.17. The stock had a trading volume of 28,563 shares, compared to its average volume of 268,789. The company has a fifty day moving average price of $3.43 and a two-hundred day moving average price of $2.76. Traeger has a 1-year low of $1.97 and a 1-year high of $3.97. The company has a quick ratio of 1.21, a current ratio of 2.04 and a debt-to-equity ratio of 1.34. The stock has a market cap of $410.42 million, a price-to-earnings ratio of -7.76 and a beta of 1.23.

Traeger (NYSE:COOK) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $168.47 million for the quarter, compared to analysts’ expectations of $168.07 million. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.23) earnings per share. Equities research analysts expect that Traeger will post -0.12 earnings per share for the current fiscal year.

Traeger Company Profile

Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbecue grills for retailers, distributors, and direct to consumers in the United States. Its wood pellet grills are internet of things devices that allow owners to program, monitor, and control their grill through its Traeger app.