Solo Brands, Inc. (NYSE:DTC) Receives Average Recommendation of “Hold” from Brokerages

Solo Brands, Inc. (NYSE:DTC) has earned a consensus rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $2.93.

Several research firms recently issued reports on DTC. Citigroup cut their target price on Solo Brands from $2.50 to $1.35 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Canaccord Genuity Group lowered their target price on shares of Solo Brands from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

Solo Brands Price Performance

NYSE DTC opened at $1.27 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.80 and a quick ratio of 1.16. The stock’s fifty day moving average price is $2.11 and its 200 day moving average price is $2.19. Solo Brands has a 1 year low of $1.08 and a 1 year high of $6.64. The company has a market cap of $115.91 million, a price-to-earnings ratio of -0.63 and a beta of 2.62.

Insider Buying and Selling at Solo Brands

In other Solo Brands news, CEO Christopher T. Metz acquired 134,826 shares of the business’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $1.30 per share, for a total transaction of $175,273.80. Following the acquisition, the chief executive officer now owns 500,000 shares in the company, valued at $650,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Christopher T. Metz purchased 49,310 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was acquired at an average price of $1.97 per share, for a total transaction of $97,140.70. Following the acquisition, the chief executive officer now directly owns 250,000 shares of the company’s stock, valued at $492,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher T. Metz purchased 134,826 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price 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 disclosure for this purchase can be found here. In the last quarter, insiders acquired 351,676 shares of company stock worth $523,731. Insiders own 0.73% of the company’s stock.

Institutional Trading of Solo Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in DTC. Parkside Financial Bank & Trust purchased a new position in shares of Solo Brands during the 4th quarter worth approximately $25,000. Williams & Novak LLC purchased a new position in shares of Solo Brands during the 2nd quarter worth approximately $42,000. Virtu Financial LLC purchased a new position in shares of Solo Brands during the 1st quarter worth approximately $42,000. Principal Financial Group Inc. purchased a new position in shares of Solo Brands during the 1st quarter worth approximately $43,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Solo Brands during the 2nd quarter worth approximately $43,000. 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.