Solo Brands, Inc. (NYSE:DTC) Receives $2.93 Consensus Price Target from Brokerages

Solo Brands, Inc. (NYSE:DTC) has been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $2.52.

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

Solo Brands Trading Down 3.9 %

NYSE DTC opened at $1.11 on Friday. The company has a market cap of $101.30 million, a P/E ratio of -0.32 and a beta of 2.48. Solo Brands has a 12 month low of $1.03 and a 12 month high of $4.06. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.57 and a quick ratio of 0.60. The company has a 50-day moving average of $1.18 and a 200-day moving average of $1.52.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in shares of Solo Brands in the third quarter worth $25,000. FMR LLC lifted 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 valued at $43,000 after acquiring an additional 21,209 shares in the last quarter. Barclays PLC boosted its position in Solo Brands by 562.2% during the 3rd quarter. Barclays PLC now owns 37,686 shares of the company’s stock worth $53,000 after purchasing an additional 31,995 shares during the period. Lakewood Asset Management LLC increased 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 valued at $115,000 after purchasing an additional 24,325 shares in the last quarter. Finally, Verition Fund Management LLC raised its position in Solo Brands by 668.6% in the third quarter. Verition Fund Management LLC now owns 99,780 shares of the company’s stock valued at $141,000 after purchasing an additional 86,798 shares during the period. Hedge funds and other institutional investors own 84.48% of the company’s stock.

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.