Solo Brands (NYSE:DTC) Trading Up 7.7% – Here’s What Happened

Solo Brands, Inc. (NYSE:DTC) shares shot up 7.7% on Tuesday . The stock traded as high as $6.89 and last traded at $6.83. 15,631 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 15,880 shares. The stock had previously closed at $6.34.

Solo Brands Price Performance

The firm has a fifty day simple moving average of $6.56 and a 200 day simple moving average of $10.28. The company has a market cap of $15.76 million, a price-to-earnings ratio of -0.08 and a beta of 4.81.

Hedge Funds Weigh In On Solo Brands

Institutional investors have recently made changes to their positions in the business. Summit Partners L P acquired a new position in shares of Solo Brands during the 3rd quarter worth about $21,522,000. Barclays PLC lifted its holdings in shares of Solo Brands by 1,914,750.0% during the third quarter. Barclays PLC now owns 38,297 shares of the company’s stock worth $749,000 after buying an additional 38,295 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Solo Brands in the third quarter valued at approximately $197,000. 84.48% of the stock is currently owned by institutional investors.

Solo Brands Company Profile

Solo Brands, Inc (NYSE: DTC) is an omni-channel outdoor lifestyle company that designs, markets and distributes a portfolio of consumer-focused brands. The company’s core business centers on developing innovative products for outdoor cooking, recreation and hunting enthusiasts. Through a direct-to-consumer e-commerce model and relationships with specialty and mass-market retailers, Solo Brands brings its products to customers in the United States, Canada and select international markets.

The Solo Stove brand offers stainless-steel, smokeless fire pits, portable camp stoves and related accessories designed for backyard and backcountry use.