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

Solo Brands, Inc. (NYSE:DTC) has been given a consensus recommendation of “Hold” by the eight analysts that are covering the company, Marketbeat Ratings reports. One 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. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $2.93.

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

Hedge Funds Weigh In On Solo Brands

A number of institutional investors have recently added to or reduced their stakes in DTC. XTX Topco Ltd bought a new position in shares of Solo Brands in the 3rd quarter valued at about $25,000. FMR LLC lifted its stake in Solo Brands by 235.1% in the 3rd quarter. FMR LLC now owns 30,232 shares of the company’s stock valued at $43,000 after purchasing an additional 21,209 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new position in Solo Brands during the second quarter worth about $43,000. Barclays PLC increased its position in Solo Brands by 562.2% during the third quarter. Barclays PLC now owns 37,686 shares of the company’s stock worth $53,000 after buying an additional 31,995 shares during the last quarter. Finally, Lakewood Asset Management LLC raised its stake in Solo Brands by 42.5% in the third quarter. Lakewood Asset Management LLC now owns 81,523 shares of the company’s stock valued at $115,000 after buying an additional 24,325 shares during the period. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Solo Brands Price Performance

Shares of DTC opened at $1.13 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 1.57 and a debt-to-equity ratio of 0.60. Solo Brands has a twelve month low of $1.03 and a twelve month high of $6.36. The stock has a market capitalization of $103.59 million, a P/E ratio of -0.33 and a beta of 2.50. The company has a 50 day moving average of $1.26 and a 200-day moving average of $1.62.

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.