Solo Brands, Inc. (NYSE:DTC) Receives $9.20 Average PT from Analysts

Shares of Solo Brands, Inc. (NYSE:DTC) have been given an average recommendation of “Buy” by the five analysts that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $9.75.

Separately, Craig Hallum initiated coverage on Solo Brands in a report on Monday, September 25th. They issued a “buy” rating and a $8.00 price objective for the company.

Solo Brands Stock Performance

Shares of DTC stock opened at $5.31 on Tuesday. Solo Brands has a 12-month low of $3.39 and a 12-month high of $8.86. The firm has a market capitalization of $481.96 million, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 0.65 and a beta of 2.63. The business has a 50 day simple moving average of $4.47 and a 200 day simple moving average of $5.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.95 and a quick ratio of 1.13.

Insiders Place Their Bets

In other Solo Brands news, CFO Somer Webb sold 115,537 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $4.35, for a total value of $502,585.95. Following the completion of the sale, the chief financial officer now directly owns 58,793 shares in the company, valued at $255,749.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Solo Brands

A number of institutional investors and hedge funds have recently modified their holdings of DTC. RK Capital Management LLC acquired a new stake in shares of Solo Brands during the 2nd quarter valued at $5,901,000. Marshall Wace LLP lifted its position in shares of Solo Brands by 216.9% during the 2nd quarter. Marshall Wace LLP now owns 1,306,598 shares of the company’s stock valued at $7,395,000 after acquiring an additional 894,268 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of Solo Brands during the 2nd quarter valued at $3,962,000. First Dallas Securities Inc. acquired a new stake in shares of Solo Brands during the 3rd quarter valued at $3,018,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Solo Brands by 227.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 750,235 shares of the company’s stock valued at $3,827,000 after acquiring an additional 521,369 shares during the last quarter. Institutional investors and hedge funds own 75.38% of the company’s stock.

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.