Solo Brands, Inc. (NYSE:DTC) Short Interest Up 12.3% in August

Solo Brands, Inc. (NYSE:DTC) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,550,000 shares, an increase of 12.3% from the August 15th total of 1,380,000 shares. Currently, 5.3% of the shares of the company are sold short. Based on an average trading volume of 496,800 shares, the days-to-cover ratio is presently 3.1 days.

Solo Brands Trading Down 0.2 %

NYSE:DTC opened at $4.56 on Monday. The stock has a market cap of $412.52 million, a price-to-earnings ratio of 16.29, a PEG ratio of 0.66 and a beta of 2.63. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.44 and a current ratio of 3.10. Solo Brands has a 1 year low of $3.39 and a 1 year high of $8.86. The business has a fifty day moving average of $5.61 and a 200-day moving average of $5.92.

Solo Brands (NYSE:DTC) last announced its earnings results on Thursday, August 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Solo Brands had a net margin of 3.37% and a return on equity of 9.11%. The firm had revenue of $130.93 million during the quarter, compared to analyst estimates of $131.37 million. Equities analysts predict that Solo Brands will post 0.62 earnings per share for the current year.

Analyst Ratings Changes

Separately, William Blair assumed coverage on shares of Solo Brands in a report on Wednesday, June 14th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $9.50.

Institutional Investors Weigh In On Solo Brands

Institutional investors have recently added to or reduced their stakes in the company. Perritt Capital Management Inc. acquired a new stake in shares of Solo Brands in the first quarter valued at $36,000. Allspring Global Investments Holdings LLC acquired a new stake in Solo Brands in the 2nd quarter valued at about $36,000. Citigroup Inc. bought a new position in shares of Solo Brands during the 2nd quarter valued at about $37,000. Quantbot Technologies LP acquired a new position in shares of Solo Brands in the 1st quarter worth approximately $56,000. Finally, UBS Group AG raised its holdings in shares of Solo Brands by 9,253.0% in the 4th quarter. UBS Group AG now owns 9,353 shares of the company’s stock worth $35,000 after purchasing an additional 9,253 shares in the last quarter. 75.38% of the stock is currently owned by institutional investors and hedge funds.

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.