Traeger, Inc. (NYSE:COOK) Short Interest Down 12.1% in November

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

Traeger Stock Performance

Shares of NYSE:COOK traded down $0.02 during trading on Friday, reaching $3.03. 117,814 shares of the stock were exchanged, compared to its average volume of 258,925. Traeger has a 12 month low of $1.97 and a 12 month high of $3.97. The stock has a 50-day moving average price of $3.14 and a 200-day moving average price of $2.96. 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 cap of $395.72 million, a PE ratio of -7.58 and a beta of 1.25.

Traeger (NYSE:COOK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, meeting 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 firm had revenue of $122.05 million for the quarter, compared to analyst estimates of $118.74 million. During the same period in the prior year, the firm posted ($0.16) EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts expect that Traeger will post -0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on COOK. Telsey Advisory Group reiterated an “outperform” rating and issued a $4.00 price target on shares of Traeger in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target on Traeger from $2.50 to $2.75 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Canaccord Genuity Group upped their price objective on Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Piper Sandler lifted their target price on Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Traeger presently has a consensus rating of “Hold” and a consensus price target of $4.10.

Institutional Trading of Traeger

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Traeger by 2.4% during the third quarter. State Street Corp now owns 789,912 shares of the company’s stock worth $2,907,000 after purchasing an additional 18,671 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Traeger by 724.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock worth $950,000 after acquiring an additional 226,750 shares during the period. Dimensional Fund Advisors LP raised its holdings in Traeger by 56.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock valued at $484,000 after acquiring an additional 72,637 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of Traeger by 19.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock valued at $438,000 after acquiring an additional 29,694 shares during the period. Finally, Diversify Wealth Management LLC grew its holdings in shares of Traeger by 5.4% during 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. Institutional investors and hedge funds 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.