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

Traeger, Inc. (NYSE:COOK) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 1,530,000 shares, a growth of 5.5% from the August 31st total of 1,450,000 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 281,000 shares, the short-interest ratio is currently 5.4 days.

Traeger Stock Performance

COOK stock opened at $3.58 on Wednesday. The firm has a 50 day simple moving average of $3.19 and a 200 day simple moving average of $2.63. Traeger has a 52 week low of $1.97 and a 52 week high of $3.97. The stock has a market cap of $461.35 million, a P/E ratio of -5.42 and a beta of 1.23. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.21 and a current ratio of 2.04.

Traeger (NYSE:COOK) last issued its earnings results on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $168.47 million for the quarter, compared to the consensus estimate of $168.07 million. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) earnings per share. Research analysts anticipate that Traeger will post -0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Piper Sandler raised Traeger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Robert W. Baird lifted their target price on shares of Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Telsey Advisory Group restated an “outperform” rating and issued a $4.00 price target on shares of Traeger in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their price objective on shares of Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Traeger currently has an average rating of “Moderate Buy” and a consensus target price of $3.30.

Institutional Trading of Traeger

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of Traeger in the 1st quarter valued at $27,000. AQR Capital Management LLC acquired a new stake in Traeger in the 2nd quarter worth approximately $52,000. Norden Group LLC bought a new stake in Traeger during the first quarter worth approximately $59,000. Squarepoint Ops LLC raised its position in shares of Traeger by 712.1% in the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock valued at $206,000 after purchasing an additional 75,159 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of Traeger by 398.0% in the first quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock worth $325,000 after buying an additional 102,689 shares during the last quarter. 46.84% of the stock is owned by institutional investors.

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.