Analysts Set Solo Brands, Inc. (NYSE:DTC) Target Price at $2.93

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

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $3.00 price target on shares of Solo Brands in a research report on Monday, September 30th. Citigroup reduced their price target on Solo Brands from $2.50 to $1.35 and set a "neutral" rating on the stock in a report on Thursday, August 8th.

Institutional Trading of Solo Brands

Several institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in shares of Solo Brands in the 3rd quarter worth about $25,000. Virtu Financial LLC bought a new stake in shares of Solo Brands in the 1st quarter worth approximately $42,000. Williams & Novak LLC purchased a new stake in shares of Solo Brands in the 2nd quarter worth approximately $42,000. Dynamic Advisor Solutions LLC purchased a new position in Solo Brands during the second quarter valued at $43,000. Finally, FMR LLC boosted its holdings in Solo Brands by 235.1% in the third quarter. FMR LLC now owns 30,232 shares of the company's stock worth $43,000 after acquiring an additional 21,209 shares in the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Solo Brands Trading Down 1.8 %

Shares of NYSE:DTC traded down $0.02 during trading on Friday, reaching $1.12. 335,533 shares of the company traded hands, compared to its average volume of 546,664. The company has a current ratio of 1.57, a quick ratio of 0.60 and a debt-to-equity ratio of 0.60. Solo Brands has a 52-week low of $1.08 and a 52-week high of $6.36. The firm has a market capitalization of $102.63 million, a price-to-earnings ratio of -0.33 and a beta of 2.55. The business's fifty day moving average is $1.37 and its 200-day moving average is $1.74.

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.