Brokerages Set Solo Brands, Inc. (NYSE:DTC) Target Price at $2.93

Solo Brands, Inc. (NYSE:DTC) has received a consensus recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $2.93.

Several research analysts have recently commented on DTC shares. Citigroup lowered 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. 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.

Institutional Investors Weigh In On Solo Brands

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in shares of Solo Brands during the 3rd quarter valued at $25,000. Williams & Novak LLC bought a new position in Solo Brands during the second quarter valued at approximately $42,000. Dynamic Advisor Solutions LLC purchased a new position in Solo Brands in the 2nd quarter worth $43,000. Virtu Financial LLC bought a new stake in shares of Solo Brands in the 1st quarter valued at about $42,000. Finally, FMR LLC lifted its position in Solo Brands by 235.1% in the third 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. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Solo Brands Stock Up 0.9 %

Solo Brands stock opened at $1.13 on Friday. Solo Brands has a fifty-two week low of $1.08 and a fifty-two week high of $6.36. The company’s 50-day moving average is $1.37 and its 200-day moving average is $1.74. 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 firm has a market capitalization of $103.59 million, a PE ratio of -0.33 and a beta of 2.55.

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.