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

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

Hedge Funds Weigh In On Traeger

Several hedge funds have recently made changes to their positions in COOK. Public Employees Retirement System of Ohio increased its holdings in shares of Traeger by 70.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock valued at $62,000 after acquiring an additional 7,006 shares during the period. Empowered Funds LLC lifted its position in Traeger by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock worth $536,000 after acquiring an additional 7,370 shares during the period. Diversify Wealth Management LLC increased its holdings 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 purchased a new stake in shares of Traeger during the third quarter worth approximately $50,000. Finally, SG Americas Securities LLC purchased a new position in Traeger during the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 46.84% of the company’s stock.

Traeger Price Performance

NYSE COOK traded up $0.07 during trading hours on Tuesday, reaching $3.36. The company’s stock had a trading volume of 264,857 shares, compared to its average volume of 261,270. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.08 and a current ratio of 2.09. Traeger has a 1-year low of $1.97 and a 1-year high of $3.97. The company’s 50-day moving average is $3.23 and its two-hundred day moving average is $2.90.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COOK. Telsey Advisory Group reiterated an “outperform” rating and issued a $4.00 target price on shares of Traeger in a research report on Thursday, November 7th. Canaccord Genuity Group raised their target price on shares of Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price target on shares of Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Robert W. Baird lifted their price objective on Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler upped their target price on Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.