Canaccord Genuity Group Reaffirms “Buy” Rating for Solo Brands (NYSE:DTC)

Canaccord Genuity Group reissued their buy rating on shares of Solo Brands (NYSE:DTC) in a report issued on Tuesday morning,Benzinga reports. They currently have a $3.00 target price on the stock.

Separately, Citigroup reduced their price objective on shares of Solo Brands from $2.50 to $1.35 and set a “neutral” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Solo Brands currently has a consensus rating of “Hold” and an average target price of $2.93.

Solo Brands Trading Up 6.7 %

Shares of Solo Brands stock opened at $1.27 on Tuesday. Solo Brands has a fifty-two week low of $1.03 and a fifty-two week high of $6.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.60 and a current ratio of 1.57. The firm has a market capitalization of $116.42 million, a price-to-earnings ratio of -0.34 and a beta of 2.55. The stock has a 50 day moving average of $1.35 and a 200 day moving average of $1.72.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in shares of Solo Brands during the third quarter worth about $25,000. Virtu Financial LLC purchased a new position in Solo Brands during the 1st quarter worth $42,000. Williams & Novak LLC purchased a new position in Solo Brands during the 2nd quarter worth $42,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Solo Brands in the 2nd quarter worth $43,000. Finally, FMR LLC boosted its holdings in shares of Solo Brands by 235.1% in the third quarter. FMR LLC now owns 30,232 shares of the company’s stock valued at $43,000 after acquiring an additional 21,209 shares in the last quarter. 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.