Short Interest in Traeger, Inc. (NYSE:COOK) Declines By 6.4%

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. 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 report on Thursday, November 7th. Telsey Advisory Group reissued an “outperform” rating and set a $4.00 price target on shares of Traeger in a research report on Thursday, November 7th. 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 report on Thursday, November 7th. Finally, Robert W. Baird raised their price objective on shares of Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $4.00.

Traeger Stock Up 2.1 %

COOK stock traded up $0.07 during trading on Tuesday, hitting $3.36. 264,857 shares of the company’s stock traded hands, compared to its average volume of 261,270. The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42. Traeger has a 52 week low of $1.97 and a 52 week high of $3.97. The stock has a fifty day moving average price of $3.23 and a two-hundred day moving average price of $2.90.

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

Hedge Funds Weigh In On Traeger

Several institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd acquired a new stake 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. Public Employees Retirement System of Ohio increased its position in shares of Traeger by 70.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock valued at $62,000 after purchasing an additional 7,006 shares during the period. AQR Capital Management LLC bought a new position in Traeger during the second quarter valued at about $52,000. Finally, XTX Topco Ltd acquired a new position in Traeger during the third quarter worth about $118,000. 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.