Solo Brands, Inc. (NYSE:DTC) Given Average Recommendation of “Hold” by Brokerages
by Teresa Graham · The Cerbat GemShares of Solo Brands, Inc. (NYSE:DTC – Get Free Report) 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 – Get Free Report) 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.
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