Short Interest in Traeger, Inc. (NYSE:COOK) Expands By 13.5%

Traeger, Inc. (NYSE:COOKGet Free Report) saw a large growth in short interest in May. As of May 31st, there was short interest totalling 1,940,000 shares, a growth of 13.5% from the May 15th total of 1,710,000 shares. Based on an average daily trading volume, of 275,700 shares, the days-to-cover ratio is currently 7.0 days. Currently, 3.4% of the shares of the stock are short sold.

Traeger Stock Down 1.3 %

Shares of NYSE:COOK traded down $0.03 during mid-day trading on Tuesday, hitting $2.30. The stock had a trading volume of 27,366 shares, compared to its average volume of 294,193. The company’s 50 day moving average is $2.30 and its 200-day moving average is $2.34. Traeger has a 12-month low of $1.97 and a 12-month high of $6.70. The company has a quick ratio of 0.99, a current ratio of 1.74 and a debt-to-equity ratio of 1.35.

Traeger (NYSE:COOKGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $144.91 million during the quarter, compared to analysts’ expectations 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 analysts forecast that Traeger will post -0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeremy Andrus bought 165,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average cost of $2.17 per share, for a total transaction of $358,050.00. Following the completion of the transaction, the chief executive officer now directly owns 7,428,887 shares of the company’s stock, valued at approximately $16,120,684.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Traeger

Large investors have recently made changes to their positions in the business. Glendon Capital Management LP increased its stake in shares of Traeger by 223.8% in the fourth quarter. Glendon Capital Management LP now owns 1,165,546 shares of the company’s stock worth $3,182,000 after acquiring an additional 805,546 shares during the last quarter. Capital World Investors raised its stake in shares of Traeger by 4.9% during the 4th quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock worth $17,744,000 after purchasing an additional 304,660 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Traeger by 398.0% in the 1st quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock valued at $325,000 after buying an additional 102,689 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of Traeger in the 3rd quarter valued at approximately $161,000. Finally, Norden Group LLC bought a new position in Traeger during the first quarter valued at approximately $118,000. Institutional investors and hedge funds own 46.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COOK has been the topic of a number of research reports. Canaccord Genuity Group dropped their target price 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. Telsey Advisory Group dropped their price target on Traeger from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.38.

View Our Latest Stock Analysis on COOK

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.

Further Reading

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