Traeger, Inc. (NYSE:COOK) Short Interest Up 25.9% in May

Traeger, Inc. (NYSE:COOK - Get Free Report) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,410,000 shares, an increase of 25.9% from the May 15th total of 1,120,000 shares. Based on an average daily trading volume, of 379,600 shares, the short-interest ratio is currently 3.7 days. Currently, 2.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of brokerages recently commented on COOK. Royal Bank Of Canada reduced their price objective on shares of Traeger from $2.75 to $2.00 and set a "sector perform" rating for the company in a research note on Friday, March 7th. Telsey Advisory Group reduced their price objective on shares of Traeger from $2.50 to $2.00 and set a "market perform" rating for the company in a research note on Friday, May 2nd. Canaccord Genuity Group cut their target price on Traeger from $5.00 to $3.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Piper Sandler cut their target price on Traeger from $2.50 to $2.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, Robert W. Baird cut their target price on Traeger from $3.50 to $2.50 and set a "neutral" rating on the stock in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $2.44.

Insider Transactions at Traeger

In other news, CEO Jeremy Andrus bought 176,425 shares of Traeger stock in a transaction dated Friday, June 6th. The shares were purchased at an average cost of $1.46 per share, with a total value of $257,580.50. Following the completion of the acquisition, the chief executive officer now owns 14,228,779 shares of the company's stock, valued at $20,774,017.34. This trade represents a 1.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 730,387 shares of company stock worth $1,009,986 in the last ninety days. Insiders own 14.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Traeger by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,081,364 shares of the company's stock worth $2,585,000 after buying an additional 4,445 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in Traeger by 1.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 650,725 shares of the company's stock worth $1,555,000 after buying an additional 7,662 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Traeger by 84.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 475,411 shares of the company's stock worth $1,136,000 after buying an additional 217,771 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Traeger by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 446,943 shares of the company's stock valued at $1,068,000 after purchasing an additional 4,246 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Traeger by 1.1% in the fourth quarter. Millennium Management LLC now owns 407,265 shares of the company's stock valued at $973,000 after purchasing an additional 4,433 shares in the last quarter. 46.84% of the stock is currently owned by institutional investors and hedge funds.

Traeger Stock Down 0.8%

NYSE:COOK traded down $0.02 during midday trading on Wednesday, hitting $1.87. 249,035 shares of the company were exchanged, compared to its average volume of 256,983. The company has a fifty day simple moving average of $1.50 and a 200 day simple moving average of $2.03. Traeger has a fifty-two week low of $1.28 and a fifty-two week high of $3.97. The company has a current ratio of 2.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $253.06 million, a PE ratio of -8.11 and a beta of 1.38.

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.

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