Solo Brands, Inc. (NYSE:DTC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Solo Brands, Inc. (NYSE:DTC) have been assigned an average rating of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $2.93.

Several research firms recently issued reports on DTC. Citigroup reduced their price target on Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $3.00 price target on shares of Solo Brands in a research report on Tuesday.

Institutional Investors Weigh In On Solo Brands

Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in Solo Brands by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock worth $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% during the third quarter. Jacobs Levy Equity Management Inc. now owns 536,282 shares of the company’s stock worth $756,000 after acquiring an additional 225,604 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Solo Brands by 27.4% in the third quarter. Geode Capital Management LLC now owns 599,370 shares of the company’s stock worth $845,000 after acquiring an additional 129,085 shares during the period. Sei Investments Co. boosted its holdings in Solo Brands by 20.6% in 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 last quarter. Finally, Verition Fund Management LLC increased its position in Solo Brands by 668.6% during the 3rd quarter. Verition Fund Management LLC now owns 99,780 shares of the company’s stock valued at $141,000 after purchasing an additional 86,798 shares during the period. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Solo Brands Trading Up 3.8 %

DTC stock opened at $1.08 on Friday. The stock has a market cap of $99.01 million, a price-to-earnings ratio of -0.31 and a beta of 2.55. The company has a fifty day moving average price of $1.36 and a two-hundred day moving average price of $1.72. Solo Brands has a one year low of $1.03 and a one year high of $6.36. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.57 and a quick ratio of 0.60.

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.