Solo Brands’ (DTC) “Hold” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their hold rating on shares of Solo Brands (NYSE:DTC) in a research report released on Thursday, Marketbeat.com reports. Canaccord Genuity Group currently has a $1.00 target price on the stock, down from their prior target price of $3.00.

Solo Brands Price Performance

Shares of NYSE DTC opened at $0.24 on Thursday. The firm has a market capitalization of $22.00 million, a P/E ratio of -0.07 and a beta of 2.49. Solo Brands has a one year low of $0.20 and a one year high of $2.57. The company’s fifty day moving average is $0.89 and its two-hundred day moving average is $1.15. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.60 and a current ratio of 1.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DTC. Empowered Funds LLC raised its stake in shares of Solo Brands by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 401,715 shares of the company’s stock worth $566,000 after buying an additional 20,368 shares during the last quarter. FMR LLC raised its stake in shares of Solo Brands by 235.1% during the 3rd quarter. FMR LLC now owns 30,232 shares of the company’s stock worth $43,000 after buying an additional 21,209 shares during the last quarter. Verition Fund Management LLC raised its stake in shares of Solo Brands by 668.6% during the 3rd quarter. Verition Fund Management LLC now owns 99,780 shares of the company’s stock worth $141,000 after buying an additional 86,798 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Solo Brands by 72.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 536,282 shares of the company’s stock worth $756,000 after buying an additional 225,604 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Solo Brands during the 3rd quarter worth $25,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

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.