Solo Brands, Inc. (NYSE:DTC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Solo Brands, Inc. (NYSE:DTC) have been assigned an average rating of “Hold” from the eight research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $2.93.

Several research analysts have recently issued reports 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 lowered their price target on Solo Brands from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.

Solo Brands Stock Performance

Solo Brands stock opened at $1.43 on Monday. The firm’s fifty day moving average price is $1.89 and its 200-day moving average price is $2.03. Solo Brands has a fifty-two week low of $1.08 and a fifty-two week high of $6.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 2.49. The stock has a market cap of $130.51 million, a P/E ratio of -0.72 and a beta of 2.54.

Solo Brands (NYSE:DTC) last announced 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). The business had revenue of $131.55 million during the quarter, compared to the consensus estimate of $128.50 million. Solo Brands had a positive return on equity of 6.02% and a negative net margin of 25.62%. During the same quarter in the previous year, the firm posted $0.15 earnings per share. On average, equities research analysts expect that Solo Brands will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Christopher T. Metz purchased 49,310 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were bought at an average price of $1.97 per share, for a total transaction of $97,140.70. Following the purchase, the chief executive officer now directly owns 250,000 shares in the company, valued at approximately $492,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Solo Brands news, CEO Christopher T. Metz acquired 49,310 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $1.97 per share, with a total value of $97,140.70. Following the transaction, the chief executive officer now owns 250,000 shares of the company’s stock, valued at approximately $492,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher T. Metz bought 115,174 shares of the business’s stock in a transaction on Friday, August 9th. The shares were acquired at an average price of $1.30 per share, for a total transaction of $149,726.20. Following the completion of the purchase, 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. Over the last ninety days, insiders acquired 351,676 shares of company stock worth $523,731. Insiders own 0.73% of the company’s stock.

Institutional Trading of Solo Brands

A number of large investors have recently made changes to their positions in DTC. Balboa Wealth Partners purchased a new stake in Solo Brands during the fourth quarter valued at $72,000. Gladstone Institutional Advisory LLC purchased a new stake in Solo Brands during the fourth quarter valued at approximately $97,000. 1620 Investment Advisors Inc. bought a new position in Solo Brands in the fourth quarter worth approximately $113,000. Williams & Novak LLC purchased a new position in shares of Solo Brands during the 2nd quarter worth $42,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in Solo Brands during the second quarter valued at about $43,000. 84.48% of the stock is currently owned by institutional investors.

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.