Bank of New York Mellon Corp Has $44,000 Holdings in Solo Brands, Inc. (NYSE:DTC)

Bank of New York Mellon Corp trimmed its stake in shares of Solo Brands, Inc. (NYSE:DTC) by 71.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,538 shares of the company’s stock after selling 96,922 shares during the period. Bank of New York Mellon Corp’s holdings in Solo Brands were worth $44,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DTC. XTX Topco Ltd acquired a new stake in Solo Brands in the third quarter worth about $25,000. FMR LLC boosted its stake in shares of Solo Brands by 235.1% in the 3rd 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. Barclays PLC grew its position in shares of 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 buying an additional 31,995 shares during the period. Williams & Novak LLC raised its stake in shares of Solo Brands by 156.1% during the fourth quarter. Williams & Novak LLC now owns 61,712 shares of the company’s stock worth $70,000 after buying an additional 37,612 shares during the last quarter. Finally, Verition Fund Management LLC lifted its holdings 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 buying an additional 86,798 shares during the period. 84.48% of the stock is owned by institutional investors.

Solo Brands Trading Down 7.5 %

NYSE:DTC opened at $0.19 on Monday. The company has a current ratio of 1.57, a quick ratio of 0.60 and a debt-to-equity ratio of 0.60. Solo Brands, Inc. has a 1-year low of $0.18 and a 1-year high of $2.57. The firm has a market capitalization of $17.72 million, a price-to-earnings ratio of -0.06 and a beta of 2.49. The business’s 50-day moving average price is $0.72 and its two-hundred day moving average price is $1.07.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “hold” rating and set a $1.00 target price (down previously from $3.00) on shares of Solo Brands in a report on Thursday, March 13th.

Solo Brands 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.