Traeger Target of Unusually High Options Trading (NYSE:COOK)

Traeger, Inc. (NYSE:COOK) was the recipient of some unusual options trading activity on Monday. Traders bought 2,228 call options on the stock. This represents an increase of approximately 2,245% compared to the typical daily volume of 95 call options.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective 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. Royal Bank of Canada decreased their price target on shares of Traeger from $2.75 to $2.00 and set a “sector perform” rating for the company in a research report on Friday, March 7th. B. Riley reissued 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. Telsey Advisory Group decreased their price target on shares of Traeger from $2.50 to $2.00 and set a “market perform” rating for the company in a research report on Friday, May 2nd. Finally, Robert W. Baird decreased their price objective on shares of Traeger from $3.50 to $2.50 and set a “neutral” rating for the company in a report 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.44.

Traeger Stock Performance

COOK stock opened at $1.85 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.08 and a current ratio of 2.09. The stock has a market capitalization of $251.16 million, a price-to-earnings ratio of -4.63 and a beta of 1.38. Traeger has a 1 year low of $1.28 and a 1 year high of $3.97. The stock’s fifty day moving average is $1.45 and its two-hundred day moving average is $2.08.

Insider Activity at Traeger

In other news, CEO Jeremy Andrus acquired 176,425 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were bought at an average price of $1.46 per share, for a total transaction of $257,580.50. Following the completion of the purchase, the chief executive officer now directly owns 14,228,779 shares of the company’s stock, valued at approximately $20,774,017.34. This trade represents a 1.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have acquired 730,387 shares of company stock worth $1,009,986. Company insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Traeger

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in Traeger by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,081,364 shares of the company’s stock valued at $2,585,000 after buying an additional 4,445 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in Traeger by 1.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 650,725 shares of the company’s stock valued at $1,555,000 after buying an additional 7,662 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Traeger by 84.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 475,411 shares of the company’s stock valued at $1,136,000 after buying an additional 217,771 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 buying an additional 4,246 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Traeger by 1.1% during 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.

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.