Short Interest in Traeger, Inc. (NYSE:COOK) Rises By 25.9%

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COOK shares. Telsey Advisory Group dropped their target price on shares of Traeger from $2.50 to $2.00 and set a "market perform" rating on the stock in a report on Friday, May 2nd. Morgan Stanley decreased their price target on shares of Traeger from $3.00 to $2.50 and set an "underweight" rating on the stock in a research note on Friday, March 7th. Canaccord Genuity Group decreased their target price on shares of Traeger from $5.00 to $3.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. B. Riley reiterated a "buy" rating and set a $3.00 price target (down previously from $4.00) on shares of Traeger in a research report on Friday, May 2nd. Finally, Robert W. Baird dropped their price objective on shares of Traeger from $3.50 to $2.50 and set a "neutral" rating for the company in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Traeger currently has an average rating of "Hold" and a consensus target price of $2.44.

Insider Buying and Selling

In related news, CEO Jeremy Andrus bought 250,000 shares of Traeger stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $1.38 per share, with a total value of $345,000.00. Following the purchase, the chief executive officer now owns 14,052,354 shares in the company, valued at approximately $19,392,248.52. This trade represents a 1.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 730,387 shares of company stock worth $1,009,986 in the last quarter. Insiders own 14.70% of the company's stock.

Hedge Funds Weigh In On Traeger

A number of hedge funds have recently bought and sold shares of the company. American Century Companies Inc. raised its stake in Traeger by 8.3% during the fourth quarter. American Century Companies Inc. now owns 53,950 shares of the company's stock worth $129,000 after buying an additional 4,153 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Traeger by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 446,943 shares of the company's stock worth $1,068,000 after buying an additional 4,246 shares during the last quarter. Millennium Management LLC raised its stake in Traeger by 1.1% during the fourth quarter. Millennium Management LLC now owns 407,265 shares of the company's stock worth $973,000 after buying an additional 4,433 shares during the last quarter. Geode Capital Management LLC raised its stake 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 during the last quarter. Finally, Barclays PLC raised its stake in Traeger by 15.9% during the fourth quarter. Barclays PLC now owns 51,987 shares of the company's stock worth $124,000 after buying an additional 7,126 shares during the last quarter. Institutional investors own 46.84% of the company's stock.

Traeger Trading Down 3.5%

NYSE COOK traded down $0.07 during mid-day trading on Friday, reaching $1.81. 349,684 shares of the stock were exchanged, compared to its average volume of 257,386. Traeger has a one year low of $1.28 and a one year high of $3.97. The stock has a 50 day simple moving average of $1.52 and a 200-day simple moving average of $2.01. The stock has a market cap of $244.92 million, a P/E ratio of -7.85 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.21 and a quick ratio of 1.09.

About Traeger

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.