Solo Brands, Inc. (NYSE:DTC) Given Average Recommendation of “Hold” by Brokerages

Shares of Solo Brands, Inc. (NYSE:DTC) have been given an average recommendation of “Hold” by the eight brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $2.93.

Several equities analysts have issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $3.00 price objective on shares of Solo Brands in a research note on Monday. Citigroup cut their price objective on Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

Insider Buying and Selling at Solo Brands

In other Solo Brands news, CEO Christopher T. Metz purchased 134,826 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 500,000 shares of the company’s stock, valued at $650,000. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Christopher T. Metz acquired 134,826 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $1.30 per share, for a total transaction of $175,273.80. Following the transaction, the chief executive officer now owns 500,000 shares in the company, valued at approximately $650,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher T. Metz bought 115,174 shares of Solo Brands stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $1.30 per share, for a total transaction of $149,726.20. Following the completion of the acquisition, the chief executive officer now owns 365,174 shares in the company, valued at approximately $474,726.20. The disclosure for this purchase can be found here. 0.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in Solo Brands in the first quarter valued at $42,000. Williams & Novak LLC purchased a new position in shares of Solo Brands during the 2nd quarter worth about $42,000. Principal Financial Group Inc. acquired a new stake in shares of Solo Brands in the first quarter worth approximately $43,000. Dynamic Advisor Solutions LLC purchased a new stake in Solo Brands in the second quarter valued at approximately $43,000. Finally, Lakewood Asset Management LLC acquired a new position in Solo Brands during the second quarter worth approximately $130,000. Hedge funds and other institutional investors own 84.48% of the company’s stock.

Solo Brands Stock Down 4.6 %

Shares of NYSE:DTC opened at $1.35 on Friday. The firm has a 50 day simple moving average of $1.63 and a 200-day simple moving average of $1.90. Solo Brands has a twelve month low of $1.08 and a twelve month high of $6.36. The company has a current ratio of 2.49, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $122.76 million, a PE ratio of -0.66 and a beta of 2.54.

Solo Brands (NYSE:DTC) last posted its earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). The firm had revenue of $131.55 million during the quarter, compared to analysts’ expectations of $128.50 million. Solo Brands had a negative net margin of 25.62% and a positive return on equity of 6.02%. During the same period in the previous year, the firm posted $0.15 earnings per share. On average, equities analysts predict that Solo Brands will post 0.18 EPS for the current fiscal 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.