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

Traeger, Inc. (NYSE:COOK) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 2,050,000 shares, an increase of 9.6% from the June 15th total of 1,870,000 shares. Currently, 3.6% of the shares of the company are short sold. Based on an average daily trading volume, of 228,900 shares, the short-interest ratio is currently 9.0 days.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group dropped their price target on Traeger from $4.50 to $4.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.38.

Traeger Price Performance

Shares of COOK opened at $2.54 on Thursday. Traeger has a one year low of $1.97 and a one year high of $6.70. The firm has a 50 day simple moving average of $2.36 and a two-hundred day simple moving average of $2.30. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.74.

Traeger (NYSE:COOK) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.05) earnings per share for the quarter. The business had revenue of $144.91 million during the quarter, compared to analyst estimates of $143.41 million. Traeger had a negative net margin of 13.54% and a negative return on equity of 22.43%. On average, equities research analysts anticipate that Traeger will post -0.21 EPS for the current year.

Insider Activity

In related news, CEO Jeremy Andrus acquired 165,000 shares of Traeger stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average cost of $2.17 per share, with a total value of $358,050.00. Following the completion of the transaction, the chief executive officer now directly owns 7,428,887 shares in the company, valued at approximately $16,120,684.79. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 9.80% of the company’s stock.

Hedge Funds Weigh In On Traeger

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors grew its stake in shares of Traeger by 4.9% during the fourth quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock worth $17,744,000 after buying an additional 304,660 shares during the last quarter. Norden Group LLC acquired a new position in Traeger in the 1st quarter worth about $118,000. Panagora Asset Management Inc. raised its position in Traeger by 28.8% in the fourth quarter. Panagora Asset Management Inc. now owns 153,761 shares of the company’s stock valued at $420,000 after purchasing an additional 34,344 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Traeger by 96.3% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 28,643 shares of the company’s stock valued at $78,000 after purchasing an additional 14,054 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in shares of Traeger during the fourth quarter worth about $28,000. 46.84% of the stock is currently owned by institutional investors and hedge funds.

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.