Traeger, Inc. (NYSE:COOK) Short Interest Update

Traeger, Inc. (NYSE:COOK) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 1,320,000 shares, a decrease of 6.4% from the October 31st total of 1,410,000 shares. Based on an average trading volume of 189,800 shares, the days-to-cover ratio is presently 7.0 days. Approximately 2.3% of the company’s shares are short sold.

Traeger Price Performance

Shares of NYSE COOK traded down $0.04 during mid-day trading on Wednesday, hitting $3.32. The company had a trading volume of 16,672 shares, compared to its average volume of 260,212. Traeger has a one year low of $1.97 and a one year high of $3.97. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.09 and a quick ratio of 1.08. The firm has a 50-day simple moving average of $3.23 and a two-hundred day simple moving average of $2.90.

Traeger (NYSE:COOK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $122.05 million for the quarter, compared to analyst estimates of $118.74 million. Traeger had a negative return on equity of 10.57% and a negative net margin of 8.53%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.16) EPS. Sell-side analysts expect that Traeger will post -0.12 EPS for the current year.

Institutional Trading of Traeger

A number of large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Traeger by 70.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock worth $62,000 after acquiring an additional 7,006 shares during the period. Empowered Funds LLC increased its holdings in shares of Traeger by 5.3% in the third quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock valued at $536,000 after purchasing an additional 7,370 shares during the last quarter. Diversify Wealth Management LLC raised its position in shares of Traeger by 5.4% in the third quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock valued at $606,000 after purchasing an additional 8,499 shares during the period. Quadrature Capital Ltd acquired a new position in Traeger in the 3rd quarter valued at about $50,000. Finally, SG Americas Securities LLC bought a new position in Traeger in the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 46.84% of the company’s stock.

Analysts Set New Price Targets

COOK has been the topic of several research analyst reports. Royal Bank of Canada raised their target price on shares of Traeger from $2.50 to $2.75 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Piper Sandler raised their price objective on shares of Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird boosted their price objective on shares of Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Canaccord Genuity Group increased their target price on Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $4.00 price target on shares of Traeger in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.00.

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.