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

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on COOK shares. Telsey Advisory Group reiterated an “outperform” rating and set a $4.00 price objective on shares of Traeger in a report on Thursday, November 7th. Canaccord Genuity Group lifted their price objective on Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Piper Sandler raised their price target on shares of Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada upped 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.10.

Institutional Trading of Traeger

Several institutional investors and hedge funds have recently made changes to their positions in COOK. Public Employees Retirement System of Ohio increased its stake 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 last quarter. Empowered Funds LLC increased its stake in 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 in the last quarter. Diversify Wealth Management LLC increased its stake in 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 in the last quarter. Quadrature Capital Ltd acquired a new stake in Traeger in the third quarter worth $50,000. Finally, SG Americas Securities LLC bought a new position in shares of Traeger during the third quarter worth $51,000. Institutional investors own 46.84% of the company’s stock.

Traeger Price Performance

Shares of NYSE:COOK traded down $0.02 during midday trading on Friday, reaching $3.03. The company’s stock had a trading volume of 117,814 shares, compared to its average volume of 258,925. 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 company has a market capitalization of $395.72 million, a P/E ratio of -7.58 and a beta of 1.25. Traeger has a fifty-two week low of $1.97 and a fifty-two week high of $3.97. The business’s fifty day simple moving average is $3.14 and its 200-day simple moving average is $2.96.

Traeger (NYSE:COOK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $122.05 million during 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 company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned ($0.16) earnings per share. As a group, equities research analysts expect that Traeger will post -0.12 EPS 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.