Stock Traders Purchase Large Volume of Call Options on Traeger (NYSE:COOK)

Traeger, Inc. (NYSE:COOK) saw unusually large options trading activity on Monday. Investors purchased 2,228 call options on the company. This represents an increase of 2,245% compared to the average volume of 95 call options.

Traeger Trading Up 26.4%

NYSE:COOK traded up $0.39 during trading hours on Monday, hitting $1.86. The stock had a trading volume of 5,974,143 shares, compared to its average volume of 263,836. The business’s 50 day moving average is $1.44 and its 200-day moving average is $2.08. 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 company has a market cap of $252.11 million, a price-to-earnings ratio of -4.64 and a beta of 1.38. Traeger has a one year low of $1.28 and a one year high of $3.97.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Robert W. Baird cut their target price on shares of Traeger from $3.50 to $2.50 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Canaccord Genuity Group cut their price objective on shares of Traeger from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Royal Bank of Canada reduced their price objective on shares of Traeger from $2.75 to $2.00 and set a “sector perform” rating on the stock in a research note on Friday, March 7th. Piper Sandler dropped their target price on shares of Traeger from $2.50 to $2.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Finally, Telsey Advisory Group cut their price target on Traeger from $2.50 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.44.

Insider Transactions at Traeger

In other news, CEO Jeremy Andrus bought 300,762 shares of the stock in a transaction dated Wednesday, June 4th. The stock was bought at an average cost of $1.34 per share, with a total value of $403,021.08. Following the purchase, the chief executive officer now owns 13,805,554 shares of the company’s stock, valued at approximately $18,499,442.36. This represents a 2.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have purchased 730,387 shares of company stock worth $1,009,986. Corporate insiders own 14.70% of the company’s stock.

Institutional Trading of Traeger

Large investors have recently made changes to their positions in the company. Graham Capital Management L.P. bought a new stake in shares of Traeger in the fourth quarter worth about $37,000. Two Sigma Advisers LP grew its position in shares of Traeger by 202.8% in the 4th quarter. Two Sigma Advisers LP now owns 32,100 shares of the company’s stock valued at $77,000 after purchasing an additional 21,500 shares during the period. Two Sigma Securities LLC bought a new stake in Traeger during the 4th quarter worth approximately $78,000. Bank of America Corp DE increased its stake in Traeger by 36.6% during the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock worth $80,000 after purchasing an additional 8,933 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Traeger by 231.8% during the 4th quarter. Deutsche Bank AG now owns 41,344 shares of the company’s stock worth $99,000 after buying an additional 28,883 shares during the period. Institutional investors own 46.84% of the company’s stock.

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.