Solo Brands (NYSE:DTC – Free Report) had its price target lowered by Canaccord Genuity Group from $5.00 to $3.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.
Solo Brands Stock Performance
Shares of Solo Brands stock traded up $0.14 during trading hours on Thursday, reaching $1.32. 755,681 shares of the stock traded hands, compared to its average volume of 676,321. Solo Brands has a one year low of $1.08 and a one year high of $6.64. The firm has a market capitalization of $120.47 million, a price-to-earnings ratio of -0.66 and a beta of 2.62. The company has a quick ratio of 1.16, a current ratio of 2.80 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $2.13 and a 200 day moving average price of $2.22.
Solo Brands (NYSE:DTC – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Solo Brands had a negative net margin of 23.52% and a positive return on equity of 6.99%. The business had revenue of $85.32 million for the quarter, compared to the consensus estimate of $80.48 million. During the same period last year, the firm earned $0.09 earnings per share. On average, equities research analysts expect that Solo Brands will post 0.35 earnings per share for the current fiscal year.
Insiders Place Their Bets
Hedge Funds Weigh In On Solo Brands
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners bought a new position in shares of Solo Brands during the 4th quarter valued at about $13,159,000. GSA Capital Partners LLP bought a new stake in Solo Brands in the 1st quarter worth approximately $1,059,000. American Century Companies Inc. raised its holdings in shares of Solo Brands by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 5,561,257 shares of the company’s stock worth $12,680,000 after acquiring an additional 384,989 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Solo Brands by 18.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 867,941 shares of the company’s stock valued at $5,347,000 after purchasing an additional 133,600 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Solo Brands by 20.6% in the first quarter. Sei Investments Co. now owns 582,210 shares of the company’s stock valued at $1,263,000 after purchasing an additional 99,262 shares in the last quarter. Institutional investors own 84.48% of the company’s stock.
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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