Traeger (NYSE:COOK) Trading 0.9% Higher – Here’s Why

Traeger, Inc. (NYSE:COOK) shares were up 0.9% during trading on Friday . The company traded as high as $1.72 and last traded at $1.70. Approximately 129,965 shares traded hands during trading, a decline of 39% from the average daily volume of 213,166 shares. The stock had previously closed at $1.68.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COOK. Morgan Stanley decreased their price target on Traeger from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Friday, March 7th. Canaccord Genuity Group lowered their target price on shares of Traeger from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, March 7th. UBS Group set a $2.50 price target on shares of Traeger in a research note on Friday, March 7th. Royal Bank of Canada lowered their price objective on shares of Traeger from $2.75 to $2.00 and set a “sector perform” rating for the company in a research report on Friday, March 7th. Finally, Telsey Advisory Group lowered shares of Traeger from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $4.00 to $2.50 in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.79.

Traeger Trading Up 0.9 %

The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42. The stock’s 50 day moving average is $2.20 and its two-hundred day moving average is $2.75. The company has a market capitalization of $221.45 million, a PE ratio of -4.24 and a beta of 1.32.

Institutional Trading of Traeger

A number of hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC increased its holdings in shares of Traeger by 61.0% in the 4th quarter. Squarepoint Ops LLC now owns 120,003 shares of the company’s stock valued at $287,000 after acquiring an additional 45,469 shares during the period. Two Sigma Advisers LP lifted its position in shares of Traeger by 202.8% during the fourth quarter. Two Sigma Advisers LP now owns 32,100 shares of the company’s stock valued at $77,000 after buying an additional 21,500 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Traeger by 32.7% during the fourth quarter. Two Sigma Investments LP now owns 123,931 shares of the company’s stock valued at $296,000 after buying an additional 30,539 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Traeger by 1.1% in the 4th quarter. Millennium Management LLC now owns 407,265 shares of the company’s stock valued at $973,000 after buying an additional 4,433 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Traeger by 19.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 307,882 shares of the company’s stock worth $736,000 after buying an additional 49,824 shares during the last quarter. 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.