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

Solo Brands, Inc. (NYSE:DTC) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $2.52.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Solo Brands by 67.7% in the third quarter. JPMorgan Chase & Co. now owns 2,085,462 shares of the company’s stock valued at $2,941,000 after purchasing an additional 841,611 shares in the last quarter. American Century Companies Inc. raised its position in Solo Brands by 7.4% during 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 in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Solo Brands by 72.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 536,282 shares of the company’s stock worth $756,000 after purchasing an additional 225,604 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Solo Brands by 27.4% in the 3rd quarter. Geode Capital Management LLC now owns 599,370 shares of the company’s stock valued at $845,000 after purchasing an additional 129,085 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake 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 purchasing an additional 86,798 shares during the last quarter. 84.48% of the stock is owned by institutional investors.

Solo Brands Stock Down 1.4 %

Shares of DTC opened at $1.10 on Friday. The firm has a market cap of $100.38 million, a P/E ratio of -0.32 and a beta of 2.48. 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 52 week low of $1.03 and a 52 week high of $3.66. The firm’s 50-day simple moving average is $1.18 and its 200 day simple moving average is $1.52.

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.