Hennion & Walsh Asset Management Inc. Has $255,000 Stock Position in Solo Brands, Inc. (NYSE:DTC)

Hennion & Walsh Asset Management Inc. boosted its position in shares of Solo Brands, Inc. (NYSE:DTC) by 45.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,410 shares of the company’s stock after purchasing an additional 36,896 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.13% of Solo Brands worth $255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in shares of Solo Brands by 345.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,259 shares of the company’s stock worth $112,000 after buying an additional 14,163 shares during the last quarter. Balboa Wealth Partners acquired a new stake in shares of Solo Brands in the fourth quarter worth about $72,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Solo Brands in the fourth quarter worth about $113,000. Aigen Investment Management LP acquired a new stake in shares of Solo Brands in the fourth quarter worth about $146,000. Finally, Gladstone Institutional Advisory LLC acquired a new stake in shares of Solo Brands in the fourth quarter worth about $97,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Insider Buying and Selling

In other Solo Brands news, CEO Christopher T. Metz purchased 49,310 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $1.97 per share, for a total transaction of $97,140.70. Following the transaction, the chief executive officer now directly owns 250,000 shares in the company, valued at $492,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Christopher T. Metz acquired 49,310 shares of Solo Brands stock in a transaction on Thursday, June 13th. The shares were purchased at an average price of $1.97 per share, with a total value of $97,140.70. Following the acquisition, the chief executive officer now owns 250,000 shares in the company, valued at $492,500. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Christopher T. Metz acquired 52,366 shares of Solo Brands stock in a transaction on Tuesday, June 11th. The shares were purchased at an average cost of $1.94 per share, for a total transaction of $101,590.04. Following the acquisition, the chief executive officer now owns 152,366 shares in the company, valued at approximately $295,590.04. The disclosure for this purchase can be found here. 0.73% of the stock is owned by corporate insiders.

Solo Brands Trading Up 1.0 %

DTC stock opened at $2.08 on Friday. Solo Brands, Inc. has a 1-year low of $1.74 and a 1-year high of $6.67. The firm has a market cap of $189.84 million, a P/E ratio of -1.03, a P/E/G ratio of 0.53 and a beta of 2.62. The business’s 50 day moving average is $2.00 and its 200-day moving average is $2.67. The company has a current ratio of 2.80, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45.

Solo Brands (NYSE:DTC) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $85.32 million for the quarter, compared to analyst estimates of $80.48 million. Solo Brands had a positive return on equity of 6.99% and a negative net margin of 23.52%. During the same period in the prior year, the company earned $0.09 EPS. Equities analysts anticipate that Solo Brands, Inc. will post 0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DTC. Jefferies Financial Group reduced their price target on Solo Brands from $4.00 to $3.05 and set a “hold” rating for the company in a research report on Friday, March 15th. Piper Sandler reissued a “neutral” rating and set a $3.00 price objective (down previously from $4.00) on shares of Solo Brands in a research report on Friday, March 15th. B. Riley reissued a “neutral” rating and set a $2.20 price objective (down previously from $4.00) on shares of Solo Brands in a research report on Friday, March 15th. Finally, Canaccord Genuity Group cut their price objective on Solo Brands from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.54.

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.