Solo Brands (NYSE:DTC) Shares Up 7.7% – Should You Buy?

Solo Brands, Inc. (NYSE:DTC) shares traded up 7.7% during trading on Tuesday . The stock traded as high as $6.89 and last traded at $6.83. 15,631 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 15,880 shares. The stock had previously closed at $6.34.

Solo Brands Stock Up 19.4%

The stock has a fifty day moving average of $6.51 and a two-hundred day moving average of $10.24. The stock has a market cap of $17.89 million, a price-to-earnings ratio of -0.09 and a beta of 4.81.

Institutional Trading of Solo Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC purchased a new stake in Solo Brands during the third quarter worth about $197,000. Barclays PLC lifted its position in shares of Solo Brands by 1,914,750.0% during the 3rd quarter. Barclays PLC now owns 38,297 shares of the company’s stock valued at $749,000 after acquiring an additional 38,295 shares during the period. Finally, Summit Partners L P acquired a new stake in shares of Solo Brands during the 3rd quarter valued at approximately $21,522,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Solo Brands Company Profile

Solo Brands, Inc (NYSE: DTC) is an omni-channel outdoor lifestyle company that designs, markets and distributes a portfolio of consumer-focused brands. The company’s core business centers on developing innovative products for outdoor cooking, recreation and hunting enthusiasts. Through a direct-to-consumer e-commerce model and relationships with specialty and mass-market retailers, Solo Brands brings its products to customers in the United States, Canada and select international markets.

The Solo Stove brand offers stainless-steel, smokeless fire pits, portable camp stoves and related accessories designed for backyard and backcountry use.