Solo Brands’ (DTC) “Buy” Rating Reiterated at Canaccord Genuity Group

Solo Brands (NYSE:DTC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity Group in a note issued to investors on Tuesday,Benzinga reports. They currently have a $3.00 price target on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 188.46% from the stock’s previous close.

Separately, Citigroup cut their target price on Solo Brands from $2.50 to $1.35 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.93.

Solo Brands Stock Down 8.0 %

NYSE DTC traded down $0.09 during trading hours on Tuesday, hitting $1.04. The company had a trading volume of 271,287 shares, compared to its average volume of 544,281. Solo Brands has a fifty-two week low of $1.03 and a fifty-two week high of $6.36. The firm’s 50 day moving average is $1.37 and its 200 day moving average is $1.73. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.57 and a quick ratio of 0.60. The company has a market capitalization of $95.34 million, a price-to-earnings ratio of -0.30 and a beta of 2.55.

Institutional Trading of Solo Brands

Hedge funds have recently modified their holdings of the company. XTX Topco Ltd bought a new stake in Solo Brands in the third quarter valued at about $25,000. Virtu Financial LLC acquired a new stake in Solo Brands in the 1st quarter valued at $42,000. Williams & Novak LLC acquired a new position in Solo Brands during the second quarter worth $42,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Solo Brands in the 2nd quarter valued at $43,000. Finally, FMR LLC increased its position in shares of Solo Brands by 235.1% during 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. 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.