Brokerages Set Solo Brands, Inc. (NYSE:DTC) Price Target at $2.93

Shares of Solo Brands, Inc. (NYSE:DTC) have been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $2.93.

Several research firms have recently commented on DTC. Canaccord Genuity Group restated a “buy” rating and set a $3.00 price target on shares of Solo Brands in a research report on Monday, September 30th. Citigroup decreased their target price on Solo Brands from $2.50 to $1.35 and set a “neutral” rating on the stock in a report on Thursday, August 8th.

Solo Brands Stock Up 0.9 %

NYSE:DTC opened at $1.13 on Friday. The firm has a market capitalization of $103.59 million, a PE ratio of -0.33 and a beta of 2.55. The stock has a 50 day moving average of $1.37 and a 200-day moving average of $1.74. 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 52 week low of $1.08 and a 52 week high of $6.36.

Institutional Investors Weigh In On Solo Brands

Institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its holdings in Solo Brands by 10.2% during the first quarter. Janney Montgomery Scott LLC now owns 115,837 shares of the company’s stock valued at $251,000 after buying an additional 10,722 shares in the last quarter. XTX Topco Ltd acquired a new position in Solo Brands in the third quarter worth $25,000. Williams & Novak LLC bought a new stake in shares of Solo Brands during the second quarter valued at approximately $42,000. Dynamic Advisor Solutions LLC acquired a new stake in Solo Brands in the second quarter worth about $43,000. Finally, Virtu Financial LLC acquired a new stake in Solo Brands during the 1st quarter worth $42,000. Institutional investors and hedge funds 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.