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

Shares of Solo Brands, Inc. (NYSE:DTC) have received an average rating of “Hold” from the six research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $2.52.

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

Institutional Investors Weigh In On Solo Brands

A number of institutional investors and hedge funds have recently made changes to their positions in DTC. XTX Topco Ltd acquired a new stake in Solo Brands in the 3rd quarter valued at about $25,000. FMR LLC raised its stake in Solo Brands by 235.1% in the third quarter. FMR LLC now owns 30,232 shares of the company’s stock valued at $43,000 after buying an additional 21,209 shares during the period. Barclays PLC lifted its position in shares of Solo Brands by 562.2% in the third quarter. Barclays PLC now owns 37,686 shares of the company’s stock valued at $53,000 after buying an additional 31,995 shares during the last quarter. Lakewood Asset Management LLC boosted its stake in shares of Solo Brands by 42.5% during the 3rd quarter. Lakewood Asset Management LLC now owns 81,523 shares of the company’s stock worth $115,000 after acquiring an additional 24,325 shares during the period. Finally, Verition Fund Management LLC increased its holdings in shares of Solo Brands by 668.6% during 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. Institutional investors own 84.48% of the company’s stock.

Solo Brands Stock Down 1.4 %

NYSE:DTC opened at $1.10 on Friday. The stock has a 50-day simple moving average of $1.18 and a 200 day simple moving average of $1.52. Solo Brands has a 52-week low of $1.03 and a 52-week high of $3.66. The company has a market cap of $100.38 million, a PE 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.

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.