Solo Brands, Inc. (NYSE:DTC) Receives $9.20 Average Target Price from Analysts

Solo Brands, Inc. (NYSE:DTC) has been assigned an average recommendation of “Buy” from the five analysts that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $9.75.

Separately, Craig Hallum assumed coverage on Solo Brands in a research report on Monday, September 25th. They issued a “buy” rating and a $8.00 price target on the stock.

Solo Brands Trading Up 14.1 %

Shares of NYSE:DTC opened at $5.31 on Tuesday. The company has a market cap of $481.96 million, a P/E ratio of 13.96, a P/E/G ratio of 0.65 and a beta of 2.63. The stock’s 50-day moving average is $4.47 and its 200-day moving average is $5.11. Solo Brands has a 52-week low of $3.39 and a 52-week high of $8.86. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.13 and a current ratio of 2.95.

Insider Activity at Solo Brands

In related news, CFO Somer Webb sold 115,537 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $4.35, for a total value of $502,585.95. Following the completion of the sale, the chief financial officer now owns 58,793 shares in the company, valued at $255,749.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio lifted its stake in Solo Brands by 217.4% during the second quarter. Strs Ohio now owns 69,500 shares of the company’s stock worth $393,000 after purchasing an additional 47,600 shares during the period. Summit Global Investments bought a new position in Solo Brands during the second quarter worth about $653,000. Victory Capital Management Inc. acquired a new stake in shares of Solo Brands during the second quarter worth approximately $739,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Solo Brands during the second quarter worth approximately $36,000. Finally, MYDA Advisors LLC increased its holdings in shares of Solo Brands by 340.0% during the first quarter. MYDA Advisors LLC now owns 220,000 shares of the company’s stock worth $1,580,000 after buying an additional 170,000 shares in the last quarter. Institutional investors own 75.38% of the company’s stock.

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.