Solo Brands, Inc. (NYSE:DTC) Short Interest Up 6.4% in February

Solo Brands, Inc. (NYSE:DTC – Get Rating) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 1,490,000 shares, a growth of 6.4% from the February 13th total of 1,400,000 shares. Based on an average daily trading volume, of 171,300 shares, the short-interest ratio is presently 8.7 days. Currently, 6.9% of the shares of the stock are sold short.

Solo Brands Price Performance

Shares of NYSE DTC opened at $6.38 on Friday. Solo Brands has a twelve month low of $3.39 and a twelve month high of $10.21. The company has a current ratio of 2.91, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $610.57 million, a price-to-earnings ratio of -91.14, a PEG ratio of 0.53 and a beta of 1.91. The firm has a 50-day moving average of $4.47 and a two-hundred day moving average of $4.25.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DTC. Credit Suisse Group increased their target price on shares of Solo Brands from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Friday, March 10th. Piper Sandler increased their target price on shares of Solo Brands from $7.00 to $9.00 in a research report on Friday, March 10th.

Insider Activity at Solo Brands

In related news, Director David Powers bought 15,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was purchased at an average price of $6.49 per share, for a total transaction of $100,595.00. Following the transaction, the director now directly owns 15,500 shares of the company’s stock, valued at approximately $100,595. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Solo Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in Solo Brands by 10.7% in the 4th quarter. American Century Companies Inc. now owns 3,104,135 shares of the company’s stock valued at $11,547,000 after acquiring an additional 299,855 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in Solo Brands by 7.5% during the first quarter. Wasatch Advisors Inc. now owns 2,405,527 shares of the company’s stock valued at $20,519,000 after buying an additional 167,806 shares in the last quarter. Vanguard Group Inc. lifted its stake in Solo Brands by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,116,197 shares of the company’s stock valued at $9,522,000 after buying an additional 3,878 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Solo Brands by 7.4% during the second quarter. Clearbridge Investments LLC now owns 1,015,585 shares of the company’s stock valued at $4,123,000 after buying an additional 70,308 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its stake in Solo Brands by 212.0% during the fourth quarter. Hodges Capital Management Inc. now owns 954,700 shares of the company’s stock valued at $3,552,000 after buying an additional 648,675 shares in the last quarter. 78.25% of the stock is owned by institutional investors and hedge funds.

About Solo Brands

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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.