Solo Brands, Inc. (NYSE:DTC) Short Interest Update

by · The Markets Daily

Solo Brands, Inc. (NYSE:DTC – Get Free Report) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,340,000 shares, a decrease of 10.0% from the August 15th total of 2,600,000 shares. Approximately 8.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 352,600 shares, the days-to-cover ratio is currently 6.6 days.

Insider Transactions at Solo Brands

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

Institutional Investors Weigh In On Solo Brands

Several hedge funds and other institutional investors have recently made changes to their positions in DTC. Williams & Novak LLC purchased a new position in shares of Solo Brands in the 2nd quarter valued at approximately $42,000. Virtu Financial LLC acquired a new stake in shares of Solo Brands in the 1st quarter valued at approximately $42,000. Principal Financial Group Inc. acquired a new stake in shares of Solo Brands in the 1st quarter valued at approximately $43,000. Dynamic Advisor Solutions LLC acquired a new position in Solo Brands during the second quarter worth $43,000. Finally, Balboa Wealth Partners acquired a new position in Solo Brands during the fourth quarter worth $72,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on DTC. Citigroup dropped their target price on Solo Brands from $2.50 to $1.35 and set a “neutral” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group dropped their target price on Solo Brands from $5.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Solo Brands has a consensus rating of “Hold” and a consensus price target of $2.93.

Check Out Our Latest Stock Analysis on DTC

Solo Brands Trading Up 0.6 %

Shares of NYSE DTC traded up $0.01 during mid-day trading on Tuesday, reaching $1.57. 158,985 shares of the company’s stock were exchanged, compared to its average volume of 617,116. The firm has a market capitalization of $143.29 million, a price-to-earnings ratio of -0.78 and a beta of 2.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 2.49. Solo Brands has a 52-week low of $1.08 and a 52-week high of $6.36. The company’s 50-day moving average is $1.78 and its 200-day moving average is $1.96.

Solo Brands (NYSE:DTC – Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). The firm had revenue of $131.55 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.15 EPS. Analysts expect that Solo Brands will post 0.21 EPS for the current fiscal year.

Solo Brands Company Profile

(Get Free Report)

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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