Solo Brands, Inc. (NYSE:DTC) Given Average Recommendation of "Hold" by Analysts

Shares of Solo Brands, Inc. (NYSE:DTC - Get Free Report) have been given a consensus rating of "Hold" by the eight research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $2.93.

A number of equities analysts have recently commented on the stock. Citigroup cut their target price on shares of Solo Brands from $2.50 to $1.35 and set a "neutral" rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $3.00 target price on shares of Solo Brands in a report on Monday, September 30th.

Insiders Place Their Bets

In related news, CEO Christopher T. Metz bought 115,174 shares of the firm'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 transaction, the chief executive officer now owns 365,174 shares of the company's stock, valued at approximately $474,726.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In other Solo Brands news, CEO Christopher T. Metz acquired 134,826 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $1.30 per share, for a total transaction of $175,273.80. Following the transaction, the chief executive officer now directly owns 500,000 shares of the company's stock, valued at approximately $650,000. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher T. Metz acquired 115,174 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $1.30 per share, for a total transaction of $149,726.20. Following the completion of the transaction, the chief executive officer now directly owns 365,174 shares in the company, valued at approximately $474,726.20. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.73% of the company's stock.

Institutional Investors Weigh In On Solo Brands

Several institutional investors and hedge funds have recently made changes to their positions in DTC. American Century Companies Inc. raised its stake in Solo Brands by 7.4% in the 2nd quarter. American Century Companies Inc. now owns 5,561,257 shares of the company's stock valued at $12,680,000 after purchasing an additional 384,989 shares during the last quarter. AQR Capital Management LLC raised its stake in Solo Brands by 9.4% in the 2nd quarter. AQR Capital Management LLC now owns 719,307 shares of the company's stock valued at $1,640,000 after purchasing an additional 62,014 shares during the last quarter. Sei Investments Co. raised its stake in Solo Brands by 7.1% in the 2nd quarter. Sei Investments Co. now owns 623,283 shares of the company's stock valued at $1,421,000 after purchasing an additional 41,073 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Solo Brands in the 1st quarter valued at about $1,059,000. Finally, Empowered Funds LLC raised its stake in Solo Brands by 8.2% in the 1st quarter. Empowered Funds LLC now owns 353,987 shares of the company's stock valued at $768,000 after purchasing an additional 26,765 shares during the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Solo Brands Stock Down 0.4 %

DTC stock traded down $0.01 during midday trading on Tuesday, reaching $1.30. 148,752 shares of the company were exchanged, compared to its average volume of 570,436. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 2.49. Solo Brands has a 1-year low of $1.08 and a 1-year high of $6.36. The stock's 50-day simple moving average is $1.43 and its 200 day simple moving average is $1.81. The company has a market cap of $118.19 million, a price-to-earnings ratio of -0.64 and a beta of 2.54.

Solo Brands (NYSE:DTC - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.07). Solo Brands had a positive return on equity of 6.02% and a negative net margin of 25.62%. The company had revenue of $131.55 million for the quarter, compared to analyst estimates of $128.50 million. During the same period in the previous year, the business posted $0.15 EPS. On average, equities analysts forecast that Solo Brands will post 0.18 earnings per share for the current year.

Solo Brands Company Profile

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.