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

Solo Brands, Inc. (NYSE:DTC) has been given an average rating of “Hold” by the eight brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $2.93.

A number of analysts recently weighed in on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $3.00 target price on shares of Solo Brands in a report on Monday, September 30th. Citigroup decreased their target price on shares of Solo Brands from $2.50 to $1.35 and set a “neutral” rating on the stock in a report on Thursday, August 8th.

Insiders Place Their Bets

In related news, CEO Christopher T. Metz purchased 134,826 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $1.30 per share, with a total value of $175,273.80. Following the purchase, the chief executive officer now directly owns 500,000 shares in the company, valued at approximately $650,000. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Solo Brands news, CEO Christopher T. Metz acquired 115,174 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $1.30 per share, with a total value of $149,726.20. Following the purchase, the chief executive officer now owns 365,174 shares of the company’s stock, valued at approximately $474,726.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher T. Metz acquired 134,826 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $1.30 per share, with a total value of $175,273.80. Following the purchase, the chief executive officer now directly owns 500,000 shares in the company, valued at $650,000. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Solo Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in Solo Brands during the 1st quarter valued at $1,059,000. Empowered Funds LLC raised its holdings in Solo Brands by 8.2% during the 1st quarter. Empowered Funds LLC now owns 353,987 shares of the company’s stock valued at $768,000 after buying an additional 26,765 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Solo Brands by 10.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 115,837 shares of the company’s stock valued at $251,000 after buying an additional 10,722 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Solo Brands during the 1st quarter valued at $43,000. Finally, American Century Companies Inc. raised its holdings in Solo Brands by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock valued at $12,680,000 after buying an additional 384,989 shares during the last quarter. 84.48% of the stock is currently owned by institutional investors.

Solo Brands Stock Performance

NYSE DTC opened at $1.31 on Tuesday. The company’s 50 day moving average is $1.43 and its 200-day moving average is $1.82. Solo Brands has a 12-month low of $1.08 and a 12-month high of $6.36. The company has a quick ratio of 1.15, a current ratio of 2.49 and a debt-to-equity ratio of 0.43. The firm has a market cap of $119.10 million, a P/E ratio of -0.65 and a beta of 2.54.

Solo Brands (NYSE:DTC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). The business had revenue of $131.55 million during the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.15 EPS. Sell-side analysts predict that Solo Brands will post 0.18 earnings per share for the current year.

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.