Traeger, Inc. (NYSE:COOK) Sees Large Decline in Short Interest

Traeger, Inc. (NYSE:COOKGet Free Report) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 1,950,000 shares, a decline of 5.3% from the February 29th total of 2,060,000 shares. Currently, 3.5% of the shares of the stock are sold short. Based on an average daily volume of 344,400 shares, the short-interest ratio is presently 5.7 days.

Traeger Stock Performance

Shares of Traeger stock opened at $2.48 on Tuesday. Traeger has a one year low of $1.97 and a one year high of $6.70. The company has a market cap of $316.65 million, a price-to-earnings ratio of -4.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.90 and a current ratio of 1.62. The business’s 50 day moving average price is $2.26 and its 200 day moving average price is $2.49.

Traeger (NYSE:COOKGet Free Report) last posted its earnings results on Thursday, March 7th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). Traeger had a negative net margin of 11.26% and a negative return on equity of 20.91%. The business had revenue of $163.48 million during the quarter, compared to analysts’ expectations of $153.10 million. On average, research analysts predict that Traeger will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Traeger

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of Traeger by 556.7% in the 4th quarter. Barclays PLC now owns 8,918 shares of the company’s stock valued at $25,000 after buying an additional 7,560 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Traeger in the 3rd quarter valued at $25,000. Victory Capital Management Inc. purchased a new stake in shares of Traeger in the 4th quarter valued at $28,000. Advisor Group Holdings Inc. raised its holdings in shares of Traeger by 37.3% in the 4th quarter. Advisor Group Holdings Inc. now owns 10,680 shares of the company’s stock valued at $30,000 after buying an additional 2,900 shares during the period. Finally, Financial Advocates Investment Management purchased a new stake in shares of Traeger in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 46.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on COOK shares. Canaccord Genuity Group reduced their target price on Traeger from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. Telsey Advisory Group reiterated an “outperform” rating and issued a $4.50 target price (down from $5.00) on shares of Traeger in a research report on Monday, March 4th. Finally, B. Riley assumed coverage on shares of Traeger in a research note on Tuesday, December 12th. They issued a “buy” rating and a $3.50 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Traeger presently has a consensus rating of “Moderate Buy” and an average target price of $4.47.

Check Out Our Latest Stock Report on Traeger

About Traeger

(Get Free Report)

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.

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