Solo Brands, Inc. (NYSE:DTC) Receives $2.93 Average Price Target from Analysts

Solo Brands, Inc. (NYSE:DTC) has been assigned an average rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $2.93.

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a $3.00 price target on shares of Solo Brands in a report on Tuesday, November 19th.

Hedge Funds Weigh In On Solo Brands

Large investors have recently bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of Solo Brands by 562.2% in the 3rd quarter. Barclays PLC now owns 37,686 shares of the company’s stock valued at $53,000 after purchasing an additional 31,995 shares during the last quarter. Geode Capital Management LLC lifted its stake in Solo Brands by 27.4% in the third quarter. Geode Capital Management LLC now owns 599,370 shares of the company’s stock valued at $845,000 after buying an additional 129,085 shares during the last quarter. XTX Topco Ltd purchased a new stake in Solo Brands in the third quarter valued at approximately $25,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Solo Brands by 72.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 536,282 shares of the company’s stock valued at $756,000 after acquiring an additional 225,604 shares during the period. Finally, Verition Fund Management LLC increased its holdings in shares of Solo Brands by 668.6% in the 3rd quarter. Verition Fund Management LLC now owns 99,780 shares of the company’s stock valued at $141,000 after acquiring an additional 86,798 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.

Solo Brands Stock Performance

Shares of Solo Brands stock opened at $1.13 on Wednesday. The business has a 50-day simple moving average of $1.26 and a 200-day simple moving average of $1.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.60 and a current ratio of 1.57. Solo Brands has a one year low of $1.03 and a one year high of $6.36. The company has a market cap of $103.13 million, a PE ratio of -0.33 and a beta of 2.50.

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.