Short Interest in Traeger, Inc. (NYSE:COOK) Drops By 5.3%

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

Traeger Price Performance

COOK opened at $2.30 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 0.90 and a debt-to-equity ratio of 1.36. The firm has a fifty day moving average price of $2.26 and a 200 day moving average price of $2.48. Traeger has a 1 year low of $1.97 and a 1 year high of $6.70.

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

Analysts Set New Price Targets

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

Check Out Our Latest Analysis on COOK

Institutional Investors Weigh In On Traeger

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Traeger by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 2,815,007 shares of the company’s stock valued at $7,685,000 after buying an additional 128,380 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Traeger in the fourth quarter valued at about $890,000. Townsquare Capital LLC acquired a new stake in shares of Traeger in the fourth quarter valued at about $51,000. Moneta Group Investment Advisors LLC raised its position in shares of Traeger by 35.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 102,436 shares of the company’s stock valued at $280,000 after buying an additional 26,889 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Traeger by 240.8% in the fourth quarter. Barclays PLC now owns 61,045 shares of the company’s stock valued at $167,000 after purchasing an additional 43,135 shares during the period. 46.84% of the stock is currently owned by institutional investors and hedge funds.

Traeger Company Profile

(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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