Solo Brands (NYSE:DTC) Receives Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Solo Brands (NYSE:DTC) in a report issued on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a $3.00 target price on the stock.

Separately, Citigroup decreased their price target on shares of Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Solo Brands presently has a consensus rating of “Hold” and a consensus target price of $2.93.

Solo Brands Stock Down 8.0 %

DTC stock opened at $1.04 on Tuesday. The business has a 50-day moving average of $1.37 and a 200-day moving average of $1.73. Solo Brands has a fifty-two week low of $1.03 and a fifty-two week high of $6.36. The stock has a market capitalization of $95.34 million, a P/E ratio of -0.30 and a beta of 2.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.57 and a quick ratio of 0.60.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DTC. XTX Topco Ltd acquired a new stake in shares of Solo Brands in the 3rd quarter valued at approximately $25,000. Williams & Novak LLC bought a new stake in Solo Brands during the second quarter worth $42,000. Dynamic Advisor Solutions LLC acquired a new stake in Solo Brands in the second quarter valued at $43,000. Virtu Financial LLC bought a new position in shares of Solo Brands in the 1st quarter valued at about $42,000. Finally, FMR LLC increased 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 purchasing an additional 21,209 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

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.