Solo Brands (NYSE:DTC) Stock Price Down 5% – What’s Next?

Solo Brands, Inc. (NYSE:DTC)’s share price fell 5% during trading on Thursday . The stock traded as low as $3.44 and last traded at $3.61. 64,954 shares changed hands during mid-day trading, an increase of 309% from the average session volume of 15,880 shares. The stock had previously closed at $3.80.

Solo Brands Stock Down 5.0%

The firm has a 50 day moving average of $5.89 and a 200 day moving average of $8.77. The firm has a market cap of $8.33 million, a PE ratio of -0.04 and a beta of 4.81.

Institutional Investors Weigh In On Solo Brands

Several institutional investors have recently made changes to their positions in the stock. Millennium Management LLC purchased a new stake in shares of Solo Brands during the third quarter worth $197,000. Barclays PLC lifted its position 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 acquiring an additional 38,295 shares in the last quarter. Finally, Summit Partners L P purchased a new stake in shares of Solo Brands during the third quarter worth $21,522,000. Hedge funds and other institutional investors own 84.48% of the company’s stock.

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.