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

Shares of Solo Brands, Inc. (NYSE:DTC) have received an average recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $2.52.

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

Institutional Investors Weigh In On Solo Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in DTC. XTX Topco Ltd acquired a new position in Solo Brands during the third quarter valued at approximately $25,000. FMR LLC boosted its holdings in shares of Solo Brands by 235.1% during the 3rd quarter. FMR LLC now owns 30,232 shares of the company’s stock worth $43,000 after buying an additional 21,209 shares during the period. Barclays PLC grew its stake in Solo Brands by 562.2% in the 3rd quarter. Barclays PLC now owns 37,686 shares of the company’s stock valued at $53,000 after buying an additional 31,995 shares during the last quarter. Lakewood Asset Management LLC raised its holdings in Solo Brands by 42.5% in the 3rd quarter. Lakewood Asset Management LLC now owns 81,523 shares of the company’s stock worth $115,000 after acquiring an additional 24,325 shares during the period. Finally, Verition Fund Management LLC lifted 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 worth $141,000 after acquiring an additional 86,798 shares during the last quarter. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Solo Brands Price Performance

DTC opened at $1.07 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.60 and a debt-to-equity ratio of 0.60. Solo Brands has a 1 year low of $1.03 and a 1 year high of $3.36. The stock has a fifty day moving average price of $1.17 and a 200 day moving average price of $1.51. The stock has a market cap of $98.09 million, a price-to-earnings ratio of -0.31 and a beta of 2.50.

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.