Traeger (NYSE:COOK) Shares Down 3.3% – Here’s What Happened

Shares of Traeger, Inc. (NYSE:COOK) fell 3.3% during trading on Monday . The stock traded as low as $1.01 and last traded at $1.0150. 321,147 shares changed hands during trading, a decline of 58% from the average session volume of 759,395 shares. The stock had previously closed at $1.05.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COOK shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Traeger in a research note on Monday, December 22nd. Wall Street Zen raised shares of Traeger from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Telsey Advisory Group cut their price target on shares of Traeger from $1.75 to $1.50 and set a “market perform” rating for the company in a research report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $2.09.

Traeger Price Performance

The company has a quick ratio of 1.39, a current ratio of 2.96 and a debt-to-equity ratio of 2.15. The firm’s fifty day moving average price is $0.94 and its 200-day moving average price is $1.30. The stock has a market cap of $139.09 million, a P/E ratio of -1.28 and a beta of 1.40.

Traeger (NYSE:COOK) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.14). The firm had revenue of $125.40 million for the quarter, compared to analysts’ expectations of $111.04 million. Traeger had a negative net margin of 18.01% and a negative return on equity of 11.31%. Analysts forecast that Traeger, Inc. will post -0.12 earnings per share for the current year.

Institutional Trading of Traeger

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Traeger by 9,116.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,133 shares of the company’s stock valued at $2,889,000 after purchasing an additional 2,342,438 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Traeger in the 3rd quarter worth approximately $1,220,000. Strs Ohio bought a new stake in shares of Traeger in the 1st quarter worth approximately $672,000. Fortitude Financial LLC purchased a new position in shares of Traeger during the second quarter valued at approximately $422,000. Finally, Drive Wealth Management LLC raised its holdings in shares of Traeger by 107.4% during the third quarter. Drive Wealth Management LLC now owns 472,150 shares of the company’s stock valued at $576,000 after acquiring an additional 244,493 shares in the last quarter. 46.84% of the stock is owned by institutional investors.

About Traeger

Traeger, trading on the NYSE under the ticker COOK, is a designer, manufacturer and marketer of wood pellet grills and outdoor cooking appliances. The company’s core product lineup features a range of hardwood-pellet grills that combine wood-fired flavor with digital temperature control. Beyond grills, Traeger offers a suite of accessories—such as grill covers, smoking woods, meat probes and recipe rubs—as well as outdoor kitchen solutions designed to serve both consumer and light-commercial segments.

Founded in 1985 by Joe Traeger, the brand pioneered the wood-pellet grilling category.