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

Traeger, Inc. (NYSE:COOK) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 1,530,000 shares, an increase of 5.5% from the August 31st total of 1,450,000 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily volume of 281,000 shares, the days-to-cover ratio is presently 5.4 days.

Traeger Stock Performance

NYSE COOK traded down $0.10 during trading hours on Tuesday, hitting $3.58. 118,464 shares of the company’s stock traded hands, compared to its average volume of 287,898. The business’s fifty day moving average price is $3.19 and its two-hundred day moving average price is $2.63. The company has a current ratio of 2.04, a quick ratio of 1.21 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $461.35 million, a P/E ratio of -5.42 and a beta of 1.23. Traeger has a 52 week low of $1.97 and a 52 week high of $3.97.

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

Institutional Trading of Traeger

Several large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in Traeger during the second quarter valued at approximately $52,000. Squarepoint Ops LLC increased its stake in shares of Traeger by 712.1% in the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock worth $206,000 after purchasing an additional 75,159 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Traeger in the second quarter worth $345,000. Dimensional Fund Advisors LP increased its stake in shares of Traeger by 56.3% in the second quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock worth $484,000 after purchasing an additional 72,637 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in shares of Traeger by 19.4% in the second quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock worth $438,000 after purchasing an additional 29,694 shares in the last quarter. 46.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COOK. Royal Bank of Canada lifted their price target on shares of Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Telsey Advisory Group reiterated an “outperform” rating and issued a $4.00 price target on shares of Traeger in a research note on Wednesday, August 7th. Robert W. Baird lifted their price target on shares of Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler upgraded shares of Traeger from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Traeger presently has an average rating of “Moderate Buy” and an average price target of $3.30.

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.