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

Solo Brands, Inc. (NYSE:DTC) has received an average recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $2.93.

Several analysts have recently weighed in on the company. Canaccord Genuity Group decreased their target price on Solo Brands from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Citigroup lowered their price objective on shares of Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

Insider Buying and Selling at Solo Brands

In other Solo Brands news, CEO Christopher T. Metz purchased 49,310 shares of the stock in a transaction dated Thursday, June 13th. The stock was purchased at an average price of $1.97 per share, with a total value of $97,140.70. Following the transaction, the chief executive officer now owns 250,000 shares of the company’s stock, valued at $492,500. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Solo Brands news, CEO Christopher T. Metz acquired 49,310 shares of Solo Brands stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average price of $1.97 per share, with a total value of $97,140.70. Following the completion of the purchase, the chief executive officer now directly owns 250,000 shares of the company’s stock, valued at approximately $492,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher T. Metz bought 52,366 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were bought at an average cost of $1.94 per share, for a total transaction of $101,590.04. Following the transaction, the chief executive officer now directly owns 152,366 shares in the company, valued at approximately $295,590.04. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 351,676 shares of company stock valued at $523,731. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Solo Brands

Hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust bought a new position in shares of Solo Brands during the 4th quarter worth approximately $25,000. Balboa Wealth Partners purchased a new stake in shares of Solo Brands during the 4th quarter valued at $72,000. Gladstone Institutional Advisory LLC acquired a new stake in shares of Solo Brands in the 4th quarter worth $97,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Solo Brands in the 4th quarter worth $113,000. Finally, Williams & Novak LLC purchased a new position in Solo Brands during the 2nd quarter worth $42,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Solo Brands Price Performance

DTC opened at $1.29 on Thursday. The business has a fifty day moving average of $2.09 and a 200 day moving average of $2.18. The stock has a market cap of $117.74 million, a P/E ratio of -0.64 and a beta of 2.62. The company has a quick ratio of 1.16, a current ratio of 2.80 and a debt-to-equity ratio of 0.45. Solo Brands has a 52-week low of $1.08 and a 52-week high of $6.64.

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.