Brokerages Set Solo Brands, Inc. (NYSE:DTC) Target Price at $2.93

Solo Brands, Inc. (NYSE:DTC) has been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $2.93.

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a $3.00 price target on shares of Solo Brands in a report on Tuesday, November 19th.

Solo Brands Price Performance

Shares of DTC opened at $1.13 on Wednesday. The firm has a market capitalization of $103.59 million, a PE ratio of -0.33 and a beta of 2.50. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.57 and a quick ratio of 0.60. The company’s 50-day moving average is $1.26 and its 200-day moving average is $1.62. Solo Brands has a fifty-two week low of $1.03 and a fifty-two week high of $6.36.

Hedge Funds Weigh In On Solo Brands

A number of hedge funds have recently bought and sold shares of the business. American Century Companies Inc. grew its position in shares of 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 in the last quarter. AQR Capital Management LLC boosted its stake in shares of Solo Brands by 9.4% in the second quarter. AQR Capital Management LLC now owns 719,307 shares of the company’s stock valued at $1,640,000 after buying an additional 62,014 shares during the period. Sei Investments Co. grew its position in Solo Brands by 7.1% during the second quarter. Sei Investments Co. now owns 623,283 shares of the company’s stock worth $1,421,000 after buying an additional 41,073 shares in the last quarter. Geode Capital Management LLC increased its stake in Solo Brands by 27.4% during the 3rd 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. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Solo Brands by 72.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 536,282 shares of the company’s stock valued at $756,000 after acquiring an additional 225,604 shares in the last quarter. 84.48% of the stock is owned by institutional investors.

About Solo Brands

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.