Williams & Novak LLC Raises Stock Position in Solo Brands, Inc. (NYSE:DTC)

Williams & Novak LLC raised its holdings in shares of Solo Brands, Inc. (NYSE:DTC) by 156.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,712 shares of the company’s stock after purchasing an additional 37,612 shares during the period. Williams & Novak LLC owned 0.07% of Solo Brands worth $70,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DTC. XTX Topco Ltd acquired a new stake in Solo Brands in the third quarter worth about $25,000. FMR LLC boosted its stake in Solo Brands by 235.1% in the 3rd quarter. FMR LLC now owns 30,232 shares of the company’s stock worth $43,000 after purchasing an additional 21,209 shares in the last quarter. Barclays PLC grew its position in Solo Brands by 562.2% during the 3rd quarter. Barclays PLC now owns 37,686 shares of the company’s stock worth $53,000 after purchasing an additional 31,995 shares during the last quarter. Lakewood Asset Management LLC raised its holdings in shares of Solo Brands by 42.5% in the third quarter. Lakewood Asset Management LLC now owns 81,523 shares of the company’s stock worth $115,000 after buying an additional 24,325 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in shares of Solo Brands by 668.6% during the third quarter. Verition Fund Management LLC now owns 99,780 shares of the company’s stock worth $141,000 after buying an additional 86,798 shares during the period. 84.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a $3.00 target price on shares of Solo Brands in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Solo Brands presently has an average rating of “Hold” and a consensus target price of $2.52.

Solo Brands Stock Down 0.5 %

DTC opened at $1.04 on Wednesday. The firm has a 50 day moving average of $1.12 and a two-hundred day moving average of $1.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.57 and a quick ratio of 0.60. Solo Brands, Inc. has a 12-month low of $1.02 and a 12-month high of $3.03.

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.