Drive Wealth Management LLC Purchases New Position in Traeger, Inc. $COOK

Drive Wealth Management LLC bought a new position in shares of Traeger, Inc. (NYSE:COOK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 227,657 shares of the company’s stock, valued at approximately $389,000. Drive Wealth Management LLC owned about 0.17% of Traeger at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COOK. Norden Group LLC grew its stake in shares of Traeger by 27.2% during the 2nd quarter. Norden Group LLC now owns 23,350 shares of the company’s stock worth $40,000 after purchasing an additional 5,000 shares during the period. Bank of America Corp DE grew its holdings in shares of Traeger by 36.6% in the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock worth $80,000 after acquiring an additional 8,933 shares during the period. Nuveen LLC purchased a new position in Traeger in the 1st quarter valued at approximately $122,000. Empowered Funds LLC raised its stake in shares of Traeger by 9.3% during the 1st quarter. Empowered Funds LLC now owns 167,696 shares of the company’s stock worth $282,000 after buying an additional 14,271 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Traeger in the first quarter valued at about $672,000. 46.84% of the stock is owned by hedge funds and other institutional investors.

Traeger Price Performance

Shares of COOK opened at $1.01 on Tuesday. Traeger, Inc. has a 52 week low of $0.98 and a 52 week high of $3.59. The company has a current ratio of 2.92, a quick ratio of 1.38 and a debt-to-equity ratio of 1.45. The firm has a market cap of $137.25 million, a price-to-earnings ratio of -3.74 and a beta of 1.43. The stock has a 50 day moving average of $1.25 and a 200-day moving average of $1.49.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Traeger from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Royal Bank Of Canada decreased their target price on Traeger from $1.50 to $1.25 and set a “sector perform” rating for the company in a report on Thursday, August 7th. B. Riley cut shares of Traeger from a “buy” rating to a “neutral” rating and reduced their price target for the company from $3.00 to $1.50 in a research report on Wednesday, August 13th. Telsey Advisory Group dropped their price objective on shares of Traeger from $2.00 to $1.75 and set a “market perform” rating for the company in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Traeger in a research report on Tuesday, October 14th. One investment 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, the stock has a consensus rating of “Reduce” and a consensus target price of $2.13.

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.