Solo Brands (NYSE:DTC) Stock Price Up 4.5% – Still a Buy?

Solo Brands, Inc. (NYSE:DTC) shares shot up 4.5% on Tuesday . The company traded as high as $9.2050 and last traded at $8.80. 15,323 shares were traded during mid-day trading, a decline of 4% from the average session volume of 15,880 shares. The stock had previously closed at $8.4248.

Solo Brands Stock Up 4.5%

The stock has a market cap of $20.31 million, a PE ratio of -0.11 and a beta of 4.81. The firm has a fifty day moving average of $12.75 and a 200 day moving average of $11.82.

Hedge Funds Weigh In On Solo Brands

A number of hedge funds have recently modified their holdings of DTC. Summit Partners L P acquired a new position in Solo Brands in the third quarter valued at $21,522,000. Barclays PLC boosted its stake in shares of Solo Brands by 1,914,750.0% during the third quarter. Barclays PLC now owns 38,297 shares of the company’s stock worth $749,000 after buying an additional 38,295 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Solo Brands during the third quarter worth about $197,000. 84.48% of the stock is currently owned by hedge funds and other 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.