Investors Buy Large Volume of Solo Brands Call Options (NYSE:DTC)

Solo Brands, Inc. (NYSE:DTC) saw some unusual options trading on Monday. Traders acquired 5,163 call options on the stock. This is an increase of 2,937% compared to the typical volume of 170 call options.

Solo Brands Price Performance

Shares of NYSE:DTC traded up $0.49 on Monday, hitting $5.14. The stock had a trading volume of 1,075,150 shares, compared to its average volume of 555,848. The firm’s 50 day moving average price is $4.47 and its 200-day moving average price is $5.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.13 and a current ratio of 2.95. Solo Brands has a twelve month low of $3.39 and a twelve month high of $8.86. The company has a market capitalization of $466.97 million, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 0.65 and a beta of 2.63.

Insider Activity

In related news, CFO Somer Webb sold 115,537 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $4.35, for a total transaction of $502,585.95. Following the transaction, the chief financial officer now owns 58,793 shares of the company’s stock, valued at $255,749.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Solo Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. increased its holdings in shares of Solo Brands by 7.5% during the first quarter. Wasatch Advisors Inc. now owns 2,405,527 shares of the company’s stock worth $20,519,000 after buying an additional 167,806 shares in the last quarter. Marshall Wace LLP grew its position in Solo Brands by 216.9% during the 2nd quarter. Marshall Wace LLP now owns 1,306,598 shares of the company’s stock worth $7,395,000 after acquiring an additional 894,268 shares during the last quarter. BlackRock Inc. increased its holdings in Solo Brands by 1.6% during the 2nd quarter. BlackRock Inc. now owns 1,285,022 shares of the company’s stock valued at $7,273,000 after purchasing an additional 20,117 shares in the last quarter. Hodges Capital Management Inc. raised its position in Solo Brands by 60.8% in the 2nd quarter. Hodges Capital Management Inc. now owns 1,243,980 shares of the company’s stock valued at $10,246,000 after purchasing an additional 470,539 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Solo Brands by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,116,197 shares of the company’s stock worth $9,522,000 after purchasing an additional 3,878 shares in the last quarter. 75.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum started coverage on Solo Brands in a research report on Monday, September 25th. They issued a “buy” rating and a $8.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $9.75.

About Solo Brands

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