Solo Brands’ (DTC) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Solo Brands (NYSE:DTC) in a report issued on Tuesday,Benzinga reports. They currently have a $3.00 price target on the stock.

Separately, Citigroup dropped their price target on Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Solo Brands has an average rating of “Hold” and a consensus target price of $2.93.

Solo Brands Price Performance

DTC stock opened at $1.18 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 1.57 and a debt-to-equity ratio of 0.60. The firm has a market cap of $108.17 million, a P/E ratio of -0.35 and a beta of 2.55. The company’s 50-day moving average price is $1.35 and its two-hundred day moving average price is $1.72. Solo Brands has a 12 month low of $1.03 and a 12 month high of $6.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in Solo Brands by 10.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 115,837 shares of the company’s stock valued at $251,000 after buying an additional 10,722 shares during the last quarter. Sei Investments Co. raised its holdings in Solo Brands by 20.6% during the 1st quarter. Sei Investments Co. now owns 582,210 shares of the company’s stock valued at $1,263,000 after acquiring an additional 99,262 shares during the period. Virtu Financial LLC purchased a new stake in Solo Brands during the 1st quarter worth about $42,000. Williams & Novak LLC bought a new position in shares of Solo Brands in the second quarter valued at approximately $42,000. Finally, Dynamic Advisor Solutions LLC bought a new position in Solo Brands in the 2nd quarter valued at $43,000. Institutional investors own 84.48% of the company’s stock.

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.