Brokerages Set Solo Brands, Inc. (NYSE:DTC) Target Price at $3.54

Solo Brands, Inc. (NYSE:DTC) has received an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $3.54.

DTC has been the subject of several analyst reports. Craig Hallum downgraded Solo Brands from a “buy” rating to a “hold” rating and set a $5.00 target price for the company. in a research report on Monday, January 8th. Canaccord Genuity Group decreased their target price on Solo Brands from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. JPMorgan Chase & Co. downgraded Solo Brands from an “overweight” rating to an “underweight” rating in a research report on Friday, February 2nd. Citigroup decreased their target price on Solo Brands from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Finally, Piper Sandler reissued a “neutral” rating and issued a $3.00 price target (down previously from $4.00) on shares of Solo Brands in a report on Friday, March 15th.

Solo Brands Price Performance

Shares of NYSE DTC opened at $2.11 on Thursday. Solo Brands has a 1-year low of $2.02 and a 1-year high of $8.86. The business has a 50-day moving average of $2.60 and a 200-day moving average of $4.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 0.95. The company has a market capitalization of $191.93 million, a price-to-earnings ratio of -1.09, a PEG ratio of 0.81 and a beta of 2.68.

Insider Buying and Selling at Solo Brands

In other news, CEO Christopher T. Metz acquired 100,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $2.27 per share, for a total transaction of $227,000.00. Following the completion of the purchase, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at approximately $227,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.34% of the stock is currently owned by insiders.

Institutional Trading of Solo Brands

Several institutional investors and hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust acquired a new stake in shares of Solo Brands during the 4th quarter worth approximately $25,000. UBS Group AG raised its position in shares of Solo Brands by 9,253.0% during the 4th quarter. UBS Group AG now owns 9,353 shares of the company’s stock worth $35,000 after purchasing an additional 9,253 shares during the period. Citigroup Inc. acquired a new stake in shares of Solo Brands during the 2nd quarter worth approximately $37,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Solo Brands during the 4th quarter worth approximately $41,000. Finally, American International Group Inc. raised its position in shares of Solo Brands by 38.4% during the 2nd 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. Institutional investors and hedge funds own 84.48% of the company’s stock.

Solo Brands Company Profile

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.