Solo Brands, Inc. (NYSE:DTC) Receives Average Recommendation of "Hold" from Brokerages

Shares of Solo Brands, Inc. (NYSE:DTC - Get Free Report) have earned a consensus recommendation of "Hold" from the eight brokerages that are presently covering the firm, Marketbeat reports. One research 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 12 month target price among brokers that have covered the stock in the last year is $2.93.

Separately, Canaccord Genuity Group reissued a "buy" rating and set a $3.00 price objective on shares of Solo Brands in a research report on Tuesday, November 19th.

Institutional Investors Weigh In On Solo Brands

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Solo Brands by 67.7% in the third quarter. JPMorgan Chase & Co. now owns 2,085,462 shares of the company's stock worth $2,941,000 after purchasing an additional 841,611 shares during the period. Barclays PLC raised its holdings in shares of Solo Brands by 562.2% in the 3rd quarter. Barclays PLC now owns 37,686 shares of the company's stock worth $53,000 after buying an additional 31,995 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Solo Brands by 27.4% during the 3rd quarter. Geode Capital Management LLC now owns 599,370 shares of the company's stock worth $845,000 after buying an additional 129,085 shares during the period. XTX Topco Ltd acquired a new stake in Solo Brands in the 3rd quarter valued at $25,000. Finally, Jacobs Levy Equity Management Inc. grew its position in Solo Brands by 72.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 536,282 shares of the company's stock valued at $756,000 after acquiring an additional 225,604 shares during the period. 84.48% of the stock is owned by institutional investors and hedge funds.

Solo Brands Stock Performance

DTC stock traded down $0.01 during mid-day trading on Friday, reaching $1.15. 386,931 shares of the stock traded hands, compared to its average volume of 344,165. The firm has a market capitalization of $105.42 million, a PE ratio of -0.33 and a beta of 2.50. The business has a 50-day moving average of $1.19 and a two-hundred day moving average of $1.54. Solo Brands has a 52 week low of $1.03 and a 52 week high of $6.02. The company has a quick ratio of 0.60, a current ratio of 1.57 and a debt-to-equity ratio of 0.60.

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.