Solo Brands (NYSE:DTC) Price Target Raised to $9.00

Solo Brands (NYSE:DTC – Get Rating) had its target price boosted by Piper Sandler from $7.00 to $9.00 in a report issued on Friday morning, The Fly reports.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity Group initiated coverage on shares of Solo Brands in a report on Thursday, November 17th. They set a buy rating and a $7.00 price objective for the company. Canaccord Genuity Group initiated coverage on shares of Solo Brands in a research note on Wednesday, November 16th. They issued a buy rating and a $7.00 price target for the company. Finally, Credit Suisse Group lowered their price target on shares of Solo Brands to $9.00 in a research note on Wednesday, November 16th.

Solo Brands Stock Performance

NYSE DTC opened at $5.49 on Friday. Solo Brands has a 52-week low of $3.39 and a 52-week high of $10.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 3.64. The company has a market capitalization of $525.39 million, a P/E ratio of -78.43, a P/E/G ratio of 1.38 and a beta of 1.91. The company has a fifty day moving average of $4.22 and a 200-day moving average of $4.19.

Hedge Funds Weigh In On Solo Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG increased its position in shares of Solo Brands by 9,253.0% during the fourth quarter. UBS Group AG now owns 9,353 shares of the company’s stock valued at $35,000 after buying an additional 9,253 shares during the period. Zacks Investment Management purchased a new position in shares of Solo Brands during the third quarter valued at about $39,000. Great Lakes Advisors LLC purchased a new position in shares of Solo Brands during the fourth quarter valued at about $41,000. American International Group Inc. grew its holdings in Solo Brands by 38.4% in the second quarter. American International Group Inc. now owns 10,287 shares of the company’s stock worth $42,000 after purchasing an additional 2,852 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Solo Brands in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 78.25% of the company’s stock.

Solo Brands Company Profile

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Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor 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; grills, cook tops, and tools; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.