Solo Brands, Inc. (NYSE:DTC) Short Interest Update

Solo Brands, Inc. (NYSE:DTC) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,340,000 shares, a drop of 10.0% from the August 15th total of 2,600,000 shares. Based on an average daily trading volume, of 352,600 shares, the days-to-cover ratio is currently 6.6 days. Approximately 8.6% of the company’s shares are sold short.

Solo Brands Stock Up 0.6 %

Shares of DTC stock traded up $0.01 during trading hours on Tuesday, reaching $1.57. 158,985 shares of the company’s stock were exchanged, compared to its average volume of 617,116. Solo Brands has a 1 year low of $1.08 and a 1 year high of $6.36. The stock has a market cap of $143.29 million, a PE ratio of -0.78 and a beta of 2.54. The company has a current ratio of 2.49, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average price is $1.78 and its two-hundred day moving average price is $1.96.

Solo Brands (NYSE:DTC) last issued its earnings results on Wednesday, August 7th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The firm had revenue of $131.55 million during the quarter, compared to analysts’ expectations of $128.50 million. Solo Brands had a negative net margin of 25.62% and a positive return on equity of 6.02%. During the same quarter in the prior year, the company earned $0.15 EPS. Research analysts predict that Solo Brands will post 0.21 EPS for the current year.

Insider Buying and Selling

In related news, CEO Christopher T. Metz purchased 134,826 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $1.30 per share, for a total transaction of $175,273.80. Following the completion of the transaction, the chief executive officer now directly owns 500,000 shares in the company, valued at $650,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Solo Brands news, CEO Christopher T. Metz bought 115,174 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $1.30 per share, for a total transaction of $149,726.20. Following the completion of the transaction, the chief executive officer now owns 365,174 shares in the company, valued at $474,726.20. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Christopher T. Metz bought 134,826 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $1.30 per share, with a total value of $175,273.80. Following the completion of the transaction, the chief executive officer now owns 500,000 shares of the company’s stock, valued at approximately $650,000. The disclosure for this purchase can be found here. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Balboa Wealth Partners acquired a new position in Solo Brands in the fourth quarter valued at approximately $72,000. Gladstone Institutional Advisory LLC acquired a new position in shares of Solo Brands during the 4th quarter worth approximately $97,000. 1620 Investment Advisors Inc. acquired a new position in shares of Solo Brands during the 4th quarter worth approximately $113,000. Williams & Novak LLC acquired a new position in shares of Solo Brands during the 2nd quarter worth approximately $42,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Solo Brands during the 2nd quarter worth approximately $43,000. 84.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup decreased their price objective on Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group decreased their price objective on Solo Brands from $5.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.93.

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.