Solo Brands (NYSE:DTC) Trading Up 1.7% – Still a Buy?

Solo Brands, Inc. (NYSE:DTC)’s share price rose 1.7% on Wednesday . The stock traded as high as $7.6007 and last traded at $7.13. Approximately 25,185 shares traded hands during trading, an increase of 59% from the average daily volume of 15,880 shares. The stock had previously closed at $7.01.

Solo Brands Stock Up 1.7%

The business’s fifty day moving average is $6.71 and its two-hundred day moving average is $9.89. The firm has a market cap of $16.46 million, a price-to-earnings ratio of -0.09 and a beta of 4.81.

Institutional Trading of Solo Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in DTC. Millennium Management LLC bought a new position in Solo Brands in the 3rd quarter valued at about $197,000. Barclays PLC lifted its position in shares of Solo Brands by 1,914,750.0% during the 3rd 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, Summit Partners L P bought a new position in Solo Brands in the third quarter valued at about $21,522,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.

About Solo Brands

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.