Solo Brands’ (DTC) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Solo Brands (NYSE:DTC) in a report published on Tuesday morning,Benzinga reports. They currently have a $3.00 target price on the stock.

Separately, Citigroup decreased their price target on Solo Brands from $2.50 to $1.35 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.93.

Solo Brands Stock Up 6.7 %

Shares of NYSE DTC opened at $1.27 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 1.57 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $1.35 and a 200 day moving average price of $1.72. Solo Brands has a 52 week low of $1.03 and a 52 week high of $6.36. The stock has a market capitalization of $116.42 million, a price-to-earnings ratio of -0.34 and a beta of 2.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in shares of Solo Brands by 7.4% in the 2nd quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock valued at $12,680,000 after purchasing an additional 384,989 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Solo Brands by 72.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 536,282 shares of the company’s stock worth $756,000 after buying an additional 225,604 shares during the period. Geode Capital Management LLC boosted its holdings in Solo Brands by 27.4% in the third quarter. Geode Capital Management LLC now owns 599,370 shares of the company’s stock valued at $845,000 after acquiring an additional 129,085 shares during the last quarter. Sei Investments Co. grew its position in Solo Brands by 20.6% during the first quarter. Sei Investments Co. now owns 582,210 shares of the company’s stock valued at $1,263,000 after acquiring an additional 99,262 shares during the period. Finally, Verition Fund Management LLC grew its position in Solo Brands by 668.6% during the third quarter. Verition Fund Management LLC now owns 99,780 shares of the company’s stock valued at $141,000 after acquiring an additional 86,798 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Solo Brands Company Profile

Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor and lifestyle branded products in the United States. The company provides camp stoves under the Solo Stove Lite brand name; fire pits under the Solo Stove brand name; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.