Solo Brands, Inc. (NYSE:DTC) Given Consensus Rating of “Hold” by Analysts

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

A number of analysts recently issued reports on the stock. Canaccord Genuity Group decreased their price objective on shares of Solo Brands from $5.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 8th. 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.

Insider Buying and Selling

In other news, CEO Christopher T. Metz purchased 134,826 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased 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 directly owns 500,000 shares in the company, valued at $650,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Christopher T. Metz purchased 115,174 shares of the company’s stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $1.30 per share, with a total value of $149,726.20. Following the completion of the purchase, the chief executive officer now directly owns 365,174 shares in the company, valued at approximately $474,726.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher T. Metz acquired 134,826 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $1.30 per share, with a total value of $175,273.80. Following the completion of the acquisition, the chief executive officer now directly owns 500,000 shares in the company, valued at approximately $650,000. The disclosure for this purchase can be found here. 0.73% of the stock is currently owned by insiders.

Institutional Trading of Solo Brands

Several hedge funds and other institutional investors have recently bought and sold shares of DTC. Virtu Financial LLC purchased a new stake in Solo Brands during the first quarter valued at about $42,000. Williams & Novak LLC purchased a new position in Solo Brands in the 2nd quarter worth approximately $42,000. Principal Financial Group Inc. purchased a new position in Solo Brands in the 1st quarter worth approximately $43,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of Solo Brands during the second quarter valued at approximately $43,000. Finally, Lakewood Asset Management LLC bought a new position in shares of Solo Brands in the second quarter worth approximately $130,000. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Solo Brands Stock Up 1.4 %

Solo Brands stock opened at $1.49 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 2.49. The stock has a market cap of $136.53 million, a PE ratio of -0.74 and a beta of 2.54. Solo Brands has a fifty-two week low of $1.08 and a fifty-two week high of $6.36. The firm’s 50-day simple moving average is $1.66 and its 200 day simple moving average is $1.92.

Solo Brands (NYSE:DTC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $131.55 million during the quarter, compared to analysts’ expectations of $128.50 million. During the same period in the prior year, the firm posted $0.15 EPS. Research analysts predict that Solo Brands will post 0.18 EPS for the current fiscal year.

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.