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 released on Monday morning, Benzinga reports. They currently have a $3.00 target price on the stock.

Separately, Citigroup decreased their price objective on Solo Brands from $2.50 to $1.35 and set a neutral rating for the company in a research 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 company’s stock. According to data from MarketBeat.com, Solo Brands currently has a consensus rating of Hold and an average target price of $2.93.

Solo Brands Trading Down 3.3 %

Shares of NYSE DTC opened at $1.33 on Monday. Solo Brands has a twelve month low of $1.08 and a twelve month high of $6.36. The stock has a market cap of $120.93 million, a price-to-earnings ratio of -0.66 and a beta of 2.54. The company has a quick ratio of 1.15, a current ratio of 2.49 and a debt-to-equity ratio of 0.43. The company’s fifty day moving average is $1.56 and its 200-day moving average is $1.88.

Solo Brands (NYSE:DTC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.02 EPS 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 for the quarter, compared to analyst estimates of $128.50 million. During the same period in the previous year, the business posted $0.15 EPS. Equities research analysts predict that Solo Brands will post 0.18 EPS for the current year.

Insider Activity at Solo Brands

In other news, CEO Christopher T. Metz purchased 115,174 shares of Solo Brands 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 transaction, the chief executive officer now directly owns 365,174 shares in the company, valued at approximately $474,726.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Solo Brands news, CEO Christopher T. Metz purchased 115,174 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $1.30 per share, with a total value of $149,726.20. Following the transaction, the chief executive officer now directly owns 365,174 shares of the company’s stock, valued at approximately $474,726.20. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher T. Metz acquired 134,826 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought 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. 0.73% of the stock is owned by insiders.

Institutional Investors Weigh In On Solo Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its holdings in Solo Brands by 10.2% during the first quarter. Janney Montgomery Scott LLC now owns 115,837 shares of the company’s stock worth $251,000 after buying an additional 10,722 shares during the last quarter. Williams & Novak LLC bought a new stake in shares of Solo Brands in the 2nd quarter valued at about $42,000. Dynamic Advisor Solutions LLC acquired a new stake in Solo Brands in the 2nd quarter valued at about $43,000. Virtu Financial LLC bought a new position in Solo Brands during the first quarter worth about $42,000. Finally, Principal Financial Group Inc. acquired a new position in Solo Brands during the first quarter worth approximately $43,000. Institutional investors own 84.48% of the company’s stock.

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.