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

Solo Brands (NYSE:DTC)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity Group in a note issued to investors on Tuesday,Benzinga reports. They presently have a $3.00 target price on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 177.78% from the stock’s previous close.

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

Solo Brands Trading Up 3.8 %

Shares of DTC stock opened at $1.08 on Tuesday. The company has a market capitalization of $99.01 million, a PE ratio of -0.31 and a beta of 2.55. Solo Brands has a 52-week low of $1.03 and a 52-week high of $6.36. The business’s fifty day moving average is $1.36 and its 200 day moving average is $1.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.60 and a current ratio of 1.57.

Hedge Funds Weigh In On Solo Brands

Several institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. lifted its position in Solo Brands by 7.4% in the second quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock valued at $12,680,000 after purchasing an additional 384,989 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake 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 worth $756,000 after buying an additional 225,604 shares during the period. Geode Capital Management LLC raised its holdings in Solo Brands by 27.4% during the 3rd 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. Sei Investments Co. boosted its position in Solo Brands by 20.6% during the 1st quarter. Sei Investments Co. now owns 582,210 shares of the company’s stock valued at $1,263,000 after buying an additional 99,262 shares during the period. Finally, Verition Fund Management LLC grew its holdings in Solo Brands by 668.6% in the 3rd quarter. Verition Fund Management LLC now owns 99,780 shares of the company’s stock worth $141,000 after acquiring an additional 86,798 shares during the last quarter. 84.48% of the stock is currently owned by institutional investors.

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.