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

Traeger, Inc. (NYSE:COOK) saw a large decline in short interest during the month of 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. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 174,600 shares, the days-to-cover ratio is presently 6.6 days.

Institutional Investors Weigh In On Traeger

A number of large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its holdings in shares of Traeger by 70.9% during the third 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 in the last quarter. Empowered Funds LLC increased its position in Traeger by 5.3% during the 3rd 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 period. Diversify Wealth Management LLC raised its holdings in Traeger by 5.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock worth $606,000 after purchasing an additional 8,499 shares in the last quarter. Quadrature Capital Ltd bought a new position in Traeger in the 3rd quarter worth $50,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Traeger in the 3rd quarter worth about $51,000. 46.84% of the stock is currently owned by institutional investors.

Traeger Trading Down 1.0 %

Shares of NYSE:COOK traded down $0.03 during trading on Tuesday, reaching $3.01. 119,155 shares of the company traded hands, compared to its average volume of 257,764. The business’s fifty day moving average is $3.14 and its 200-day moving average is $2.96. Traeger has a 52-week low of $1.97 and a 52-week high of $3.97. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $393.11 million, a price-to-earnings ratio of -7.60 and a beta of 1.25.

Traeger (NYSE:COOK) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm 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 company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.16) earnings per share. As a group, analysts forecast that Traeger will post -0.12 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Royal Bank of Canada increased their price target on shares of Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased 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. 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. Finally, Piper Sandler upped 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.10.

About Traeger

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.