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

Shares of Solo Brands, Inc. (NYSE:DTC) have received a consensus rating of “Hold” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One research 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. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $2.93.

DTC has been the subject of several recent research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $3.00 price target on shares of Solo Brands in a report on Monday. Citigroup lowered their target price on Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a research note on Thursday, August 8th.

Solo Brands Stock Performance

Shares of NYSE:DTC opened at $1.35 on Friday. The business has a 50-day moving average of $1.63 and a two-hundred day moving average of $1.90. The firm has a market capitalization of $122.76 million, a PE ratio of -0.66 and a beta of 2.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.49 and a quick ratio of 1.15. Solo Brands has a 12 month low of $1.08 and a 12 month high of $6.36.

Solo Brands (NYSE:DTC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). The business had revenue of $131.55 million during the quarter, compared to analysts’ expectations of $128.50 million. Solo Brands had a negative net margin of 25.62% and a positive return on equity of 6.02%. During the same quarter in the previous year, the business posted $0.15 EPS. As a group, research analysts forecast that Solo Brands will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Solo Brands

In other Solo Brands news, CEO Christopher T. Metz acquired 115,174 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $1.30 per share, for a total transaction of $149,726.20. Following the acquisition, the chief executive officer now directly owns 365,174 shares of the company’s stock, valued at $474,726.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Christopher T. Metz bought 115,174 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $1.30 per share, for a total transaction of $149,726.20. Following the purchase, the chief executive officer now owns 365,174 shares in the company, valued at approximately $474,726.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher T. Metz purchased 134,826 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $1.30 per share, with a total value of $175,273.80. Following the completion of the purchase, the chief executive officer now directly owns 500,000 shares of the company’s stock, valued at approximately $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

A number of institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in Solo Brands during the first quarter valued at $1,059,000. Empowered Funds LLC raised its stake in Solo Brands by 8.2% during the first quarter. Empowered Funds LLC now owns 353,987 shares of the company’s stock worth $768,000 after acquiring an additional 26,765 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Solo Brands by 10.2% in the first quarter. Janney Montgomery Scott LLC now owns 115,837 shares of the company’s stock worth $251,000 after acquiring an additional 10,722 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Solo Brands in the first quarter valued at approximately $43,000. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of Solo Brands by 27.6% during the first quarter. Concurrent Investment Advisors LLC now owns 93,418 shares of the company’s stock valued at $203,000 after purchasing an additional 20,203 shares during the last quarter. 84.48% of the stock is currently owned by institutional investors.

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.