Solo Brands, Inc. (NYSE:DTC) Receives Average Recommendation of “Hold” from Analysts

Solo Brands, Inc. (NYSE:DTC) has been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $2.93.

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

Insider Buying and Selling at Solo Brands

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

Institutional Trading of Solo Brands

Several hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its position in Solo Brands by 7.4% in the second quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock worth $12,680,000 after acquiring an additional 384,989 shares during the period. AQR Capital Management LLC raised its position in Solo Brands by 9.4% in the second quarter. AQR Capital Management LLC now owns 719,307 shares of the company’s stock worth $1,640,000 after acquiring an additional 62,014 shares during the period. Sei Investments Co. raised its position in Solo Brands by 7.1% in the second quarter. Sei Investments Co. now owns 623,283 shares of the company’s stock worth $1,421,000 after acquiring an additional 41,073 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Solo Brands in the first quarter valued at approximately $1,059,000. Finally, Empowered Funds LLC raised its position in shares of Solo Brands by 8.2% in the first quarter. Empowered Funds LLC now owns 353,987 shares of the company’s stock valued at $768,000 after purchasing an additional 26,765 shares during the period. Institutional investors own 84.48% of the company’s stock.

Solo Brands Price Performance

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

Solo Brands (NYSE:DTC) last issued its earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Solo Brands had a positive return on equity of 6.02% and a negative net margin of 25.62%. The firm had revenue of $131.55 million for the quarter, compared to analyst estimates of $128.50 million. During the same period in the previous year, the company earned $0.15 earnings per share. Sell-side analysts forecast that Solo Brands will post 0.18 EPS for the current fiscal year.

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.