Traeger (NYSE:COOK) Stock Price Up 0.9% – Time to Buy?

Traeger, Inc. (NYSE:COOK) shot up 0.9% during mid-day trading on Friday . The company traded as high as $1.72 and last traded at $1.70. 129,965 shares changed hands during trading, a decline of 39% from the average session volume of 213,166 shares. The stock had previously closed at $1.68.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on COOK. Canaccord Genuity Group decreased their price target on shares of Traeger from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Piper Sandler decreased their target price on Traeger from $3.75 to $2.50 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Royal Bank of Canada lowered their target price on Traeger from $2.75 to $2.00 and set a “sector perform” rating on the stock in a research note on Friday, March 7th. UBS Group set a $2.50 price target on Traeger in a research note on Friday, March 7th. Finally, Telsey Advisory Group lowered Traeger from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $4.00 to $2.50 in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Traeger presently has a consensus rating of “Hold” and a consensus price target of $2.79.

Traeger Trading Up 0.9 %

The firm has a market capitalization of $221.45 million, a P/E ratio of -4.24 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42. The firm has a 50 day moving average of $2.20 and a 200-day moving average of $2.75.

Institutional Trading of Traeger

Several large investors have recently modified their holdings of COOK. Graham Capital Management L.P. bought a new stake in Traeger during the fourth quarter worth about $37,000. Quadrature Capital Ltd acquired a new stake in shares of Traeger during the 3rd quarter worth approximately $50,000. Public Employees Retirement System of Ohio boosted its position in shares of Traeger by 70.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock worth $62,000 after acquiring an additional 7,006 shares in the last quarter. Two Sigma Advisers LP increased its stake in Traeger by 202.8% in the fourth quarter. Two Sigma Advisers LP now owns 32,100 shares of the company’s stock valued at $77,000 after acquiring an additional 21,500 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new position in Traeger during the fourth quarter valued at approximately $78,000. 46.84% of the stock is owned by institutional investors and hedge funds.

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.