Solo Brands, Inc. (NYSE:DTC) Receives $2.93 Consensus Price Target from Brokerages

Solo Brands, Inc. (NYSE:DTC) has been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $2.52.

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a $3.00 target price on shares of Solo Brands in a research note on Tuesday, November 19th.

Institutional Investors Weigh In On Solo Brands

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Solo Brands by 67.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,085,462 shares of the company’s stock valued at $2,941,000 after purchasing an additional 841,611 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Solo Brands by 7.4% during the second quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock worth $12,680,000 after buying an additional 384,989 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Solo Brands by 72.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 536,282 shares of the company’s stock valued at $756,000 after acquiring an additional 225,604 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Solo Brands by 27.4% in the 3rd quarter. Geode Capital Management LLC now owns 599,370 shares of the company’s stock worth $845,000 after acquiring an additional 129,085 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in Solo Brands by 668.6% during the 3rd quarter. Verition Fund Management LLC now owns 99,780 shares of the company’s stock worth $141,000 after acquiring an additional 86,798 shares during the last quarter. Institutional investors and hedge funds own 84.48% of the company’s stock.

Solo Brands Stock Down 0.9 %

DTC opened at $1.07 on Friday. The business has a 50 day moving average of $1.17 and a 200-day moving average of $1.51. The stock has a market capitalization of $98.09 million, a price-to-earnings ratio of -0.31 and a beta of 2.50. The company has a current ratio of 1.57, a quick ratio of 0.60 and a debt-to-equity ratio of 0.60. Solo Brands has a 1-year low of $1.03 and a 1-year high of $3.36.

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.