Canaccord Genuity Group Reiterates Hold Rating for Solo Brands (NYSE:DTC)

Solo Brands (NYSE:DTC)‘s stock had its “hold” rating reaffirmed by equities researchers at Canaccord Genuity Group in a report issued on Thursday, MarketBeat reports. They currently have a $1.00 price target on the stock, down from their previous price target of $3.00. Canaccord Genuity Group’s price objective would suggest a potential upside of 316.67% from the company’s previous close.

Solo Brands Price Performance

NYSE DTC opened at $0.24 on Thursday. The company has a market capitalization of $22.00 million, a PE ratio of -0.07 and a beta of 2.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.60 and a current ratio of 1.57. The business’s fifty day moving average is $0.89 and its 200 day moving average is $1.15. Solo Brands has a fifty-two week low of $0.20 and a fifty-two week high of $2.57.

Institutional Investors Weigh In On Solo Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in Solo Brands during the third quarter valued at about $25,000. WINTON GROUP Ltd bought a new stake in Solo Brands during the fourth quarter valued at about $31,000. FMR LLC raised its holdings in Solo Brands by 235.1% during the third quarter. FMR LLC now owns 30,232 shares of the company’s stock valued at $43,000 after acquiring an additional 21,209 shares during the period. Barclays PLC raised its holdings in Solo Brands by 562.2% during the third quarter. Barclays PLC now owns 37,686 shares of the company’s stock valued at $53,000 after acquiring an additional 31,995 shares during the period. Finally, Williams & Novak LLC raised its holdings in Solo Brands by 156.1% during the fourth quarter. Williams & Novak LLC now owns 61,712 shares of the company’s stock valued at $70,000 after acquiring an additional 37,612 shares during the period. 84.48% of the stock is owned by institutional investors.

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.