Solo Brands, Inc. (NYSE:DTC) Receives Average Rating of “Hold” from Brokerages

Shares of Solo Brands, Inc. (NYSE:DTC) have been assigned an average rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $3.54.

Several equities research analysts have weighed in on the company. Citigroup lowered their price target on Solo Brands from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. JPMorgan Chase & Co. downgraded Solo Brands from an “overweight” rating to an “underweight” rating in a report on Friday, February 2nd. William Blair downgraded Solo Brands from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. Jefferies Financial Group lowered their price target on Solo Brands from $4.00 to $3.05 and set a “hold” rating for the company in a report on Friday, March 15th. Finally, Piper Sandler reissued a “neutral” rating and issued a $3.00 price target (down previously from $4.00) on shares of Solo Brands in a report on Friday, March 15th.

Insider Activity at Solo Brands

In other news, CEO Christopher T. Metz bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average price of $2.27 per share, for a total transaction of $227,000.00. Following the completion of the transaction, the chief executive officer now directly owns 100,000 shares in the company, valued at $227,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Solo Brands

Several hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its position in Solo Brands by 37.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 150,014 shares of the company’s stock worth $924,000 after purchasing an additional 40,600 shares in the last quarter. FIL Ltd acquired a new position in Solo Brands in the 4th quarter valued at $315,000. Public Employees Retirement System of Ohio acquired a new position in Solo Brands in the 4th quarter valued at $41,000. Barclays PLC increased its stake in shares of Solo Brands by 464.4% in the 4th quarter. Barclays PLC now owns 27,290 shares of the company’s stock worth $169,000 after acquiring an additional 22,455 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Solo Brands in the 4th quarter worth $3,938,000. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Solo Brands Price Performance

Shares of NYSE DTC opened at $2.11 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.95 and a current ratio of 2.21. The company has a market cap of $191.93 million, a PE ratio of -1.09, a P/E/G ratio of 0.81 and a beta of 2.68. The business has a 50-day simple moving average of $2.60 and a two-hundred day simple moving average of $4.01. Solo Brands has a fifty-two week low of $2.02 and a fifty-two week high of $8.86.

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.