Solo Brands, Inc. (NYSE:DTC) Sees Large Decrease in Short Interest

Solo Brands, Inc. (NYSE:DTCGet Free Report) was the target of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 3,590,000 shares, a decrease of 14.1% from the April 30th total of 4,180,000 shares. Based on an average daily volume of 593,200 shares, the days-to-cover ratio is presently 6.1 days. Approximately 13.0% of the shares of the stock are short sold.

Insider Transactions at Solo Brands

In other news, CEO Christopher T. Metz bought 100,000 shares of the stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $2.27 per share, with a total value of $227,000.00. Following the acquisition, the chief executive officer now owns 100,000 shares in the company, valued at $227,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by insiders.

Institutional Trading of Solo Brands

Several hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in Solo Brands during the 1st quarter worth approximately $42,000. Sei Investments Co. grew its stake in shares of Solo Brands by 20.6% during the 1st quarter. Sei Investments Co. now owns 582,210 shares of the company’s stock worth $1,263,000 after acquiring an additional 99,262 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Solo Brands by 27.6% during the 1st quarter. Concurrent Investment Advisors LLC now owns 93,418 shares of the company’s stock worth $203,000 after acquiring an additional 20,203 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Solo Brands by 8.2% during the 1st quarter. Empowered Funds LLC now owns 353,987 shares of the company’s stock worth $768,000 after acquiring an additional 26,765 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Solo Brands during the 1st quarter worth approximately $1,059,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on DTC. Piper Sandler reissued a “neutral” rating and set a $3.00 price objective (down previously from $4.00) on shares of Solo Brands in a report on Friday, March 15th. Citigroup cut their target price on shares of Solo Brands from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. JPMorgan Chase & Co. downgraded shares of Solo Brands from an “overweight” rating to an “underweight” rating in a research report on Friday, February 2nd. Jefferies Financial Group cut their target price on shares of Solo Brands from $4.00 to $3.05 and set a “hold” rating on the stock in a research report on Friday, March 15th. Finally, B. Riley restated a “neutral” rating and set a $2.20 target price (down from $4.00) on shares of Solo Brands in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Solo Brands currently has an average rating of “Hold” and a consensus price target of $3.54.

Read Our Latest Stock Analysis on DTC

Solo Brands Stock Performance

Shares of NYSE:DTC opened at $1.95 on Friday. The company has a market capitalization of $177.52 million, a price-to-earnings ratio of -0.97, a P/E/G ratio of 0.48 and a beta of 2.59. The firm’s 50 day simple moving average is $1.96 and its 200 day simple moving average is $3.21. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.80 and a quick ratio of 1.16. Solo Brands has a fifty-two week low of $1.74 and a fifty-two week high of $6.67.

Solo Brands (NYSE:DTCGet Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $85.32 million for the quarter, compared to the consensus estimate of $80.48 million. Solo Brands had a negative net margin of 23.52% and a positive return on equity of 6.99%. During the same period last year, the company posted $0.09 EPS. As a group, sell-side analysts forecast that Solo Brands will post 0.33 earnings per share for the current year.

Solo Brands Company Profile

(Get Free Report)

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.

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