Solo Brands, Inc. (NYSE:DTC) Sees Large Decrease in Short Interest

Solo Brands, Inc. (NYSE:DTC) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totalling 2,500,000 shares, a decrease of 7.1% from the June 30th total of 2,690,000 shares. Based on an average daily trading volume, of 327,700 shares, the short-interest ratio is currently 7.6 days. Currently, 9.2% of the shares of the stock are sold short.

Insider Buying and Selling

In other news, CEO Christopher T. Metz bought 52,366 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were bought at an average cost of $1.94 per share, for a total transaction of $101,590.04. Following the completion of the acquisition, the chief executive officer now owns 152,366 shares in the company, valued at approximately $295,590.04. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Christopher T. Metz bought 49,310 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of $1.97 per share, for a total transaction of $97,140.70. Following the transaction, the chief executive officer now owns 250,000 shares in the company, valued at approximately $492,500. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher T. Metz acquired 52,366 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average cost of $1.94 per share, for a total transaction of $101,590.04. Following the completion of the purchase, the chief executive officer now directly owns 152,366 shares of the company’s stock, valued at $295,590.04. The disclosure for this purchase can be found here. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust bought a new stake in shares of Solo Brands during the 4th quarter valued at $25,000. Balboa Wealth Partners bought a new stake in Solo Brands in the 4th quarter worth approximately $72,000. Gladstone Institutional Advisory LLC purchased a new position in Solo Brands in the fourth quarter worth about $97,000. Tower Research Capital LLC TRC lifted its position in Solo Brands by 345.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,259 shares of the company’s stock worth $112,000 after buying an additional 14,163 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Solo Brands during the fourth quarter valued at approximately $113,000. 84.48% of the stock is owned by hedge funds and other institutional investors.

Solo Brands Trading Down 1.2 %

Shares of NYSE DTC traded down $0.03 during midday trading on Wednesday, reaching $2.39. The stock had a trading volume of 229,001 shares, compared to its average volume of 666,515. The firm has a market cap of $218.13 million, a price-to-earnings ratio of -1.20 and a beta of 2.62. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.80. The company’s 50 day moving average price is $2.14 and its 200 day moving average price is $2.27. Solo Brands has a twelve month low of $1.74 and a twelve month high of $6.67.

Solo Brands (NYSE:DTC) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. Solo Brands had a positive return on equity of 6.99% and a negative net margin of 23.52%. The business had revenue of $85.32 million during the quarter, compared to the consensus estimate of $80.48 million. During the same quarter in the previous year, the business earned $0.09 EPS. As a group, sell-side analysts expect that Solo Brands will post 0.35 EPS for the current year.

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.