Short Interest in Traeger, Inc. (NYSE:COOK) Declines By 12.1%

Traeger, Inc. (NYSE:COOK) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 1,160,000 shares, a decrease of 12.1% from the November 15th total of 1,320,000 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily trading volume, of 174,600 shares, the short-interest ratio is currently 6.6 days.

Wall Street Analyst Weigh In

COOK has been the subject of a number of research reports. Piper Sandler boosted their price target on shares of Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Telsey Advisory Group reissued an “outperform” rating and issued a $4.00 price objective on shares of Traeger in a report on Thursday, November 7th. Canaccord Genuity Group lifted their target price on shares of Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their target price on Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.10.

Traeger Price Performance

COOK stock traded down $0.03 on Tuesday, reaching $3.01. The company had a trading volume of 119,146 shares, compared to its average volume of 257,764. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.08 and a current ratio of 2.09. The company has a market cap of $393.11 million, a P/E ratio of -7.53 and a beta of 1.25. Traeger has a 1 year low of $1.97 and a 1 year high of $3.97. The company’s fifty day moving average is $3.13 and its 200 day moving average is $2.97.

Traeger (NYSE:COOK) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $122.05 million for the quarter, compared to analysts’ expectations of $118.74 million. Traeger had a negative net margin of 8.53% and a negative return on equity of 10.57%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company earned ($0.16) EPS. On average, research analysts forecast that Traeger will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in COOK. Quadrature Capital Ltd acquired a new position in Traeger in the third quarter worth about $50,000. SG Americas Securities LLC acquired a new stake in Traeger in the third quarter worth approximately $51,000. AQR Capital Management LLC acquired a new position in shares of Traeger in the 2nd quarter worth approximately $52,000. Public Employees Retirement System of Ohio increased its holdings in shares of Traeger by 70.9% in the third quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock valued at $62,000 after buying an additional 7,006 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Traeger in the third quarter worth about $118,000. Hedge funds and other institutional investors own 46.84% of the company’s stock.

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.