Solo Brands Inc. (NYSE:DTC) shares traded 21.19% higher at $5.49 on Wall Street last session.
DTC stock price is now 32.05% away from the 50-day moving average and 25.75% away from the 200-day moving average. The market capitalization of the company currently stands at $433.49M.
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With the price target of $7, Canaccord Genuity recently initiated with Buy rating for Solo Brands Inc. (NYSE: DTC). On January 12, 2022, Citigroup Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $17 to quote $20, while ‘William Blair’ rates the stock as ‘Outperform’.
In other news, Merris John, President & CEO bought 5,533 shares of the company’s stock on Dec 16. The stock was bought for $21,152 at an average price of $3.82. Upon completion of the transaction, the President & CEO now directly owns 144,552 shares in the company, valued at $0.79 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 01, Chief Financial Officer Webb Somer bought 45,000 shares of the business’s stock. A total of $184,500 was incurred on buying the stock at an average price of $4.10. This leaves the insider owning 115,372 shares of the company worth $0.63 million. Insiders disposed of 8,414 shares of company stock worth roughly $46192.86 over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in DTC stock. A new stake in Solo Brands Inc. shares was purchased by DIMENSIONAL FUND ADVISORS LP during the first quarter worth $397,000. TECTONIC ADVISORS LLC invested $381,000 in shares of DTC during the first quarter. In the first quarter, BANK OF MONTREAL /CAN/ acquired a new stake in Solo Brands Inc. valued at approximately $232,000. HRT FINANCIAL LP acquired a new stake in DTC for approximately $226,000. ERGOTELES LLC purchased a new stake in DTC valued at around $193,000 in the second quarter.
Solo Brands Inc. (NYSE: DTC) opened at $4.80 on Friday. During the past 12 months, Solo Brands Inc. has had a low of $3.39 and a high of $10.74. As of last week, the company has a debt-to-equity ratio of 0.49, a current ratio of 3.60, and a quick ratio of 0.90. The fifty day moving average price for DTC is $4.20 and a two-hundred day moving average price translates $4.37 for the stock.
The latest earnings results from Solo Brands Inc. (NYSE: DTC) was released for Sep, 2022. The net profit margin was -9.10% and return on equity was -12.70% for DTC. The company reported revenue of $197.24 million for the quarter, compared to $176.47 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.77 percent.
Solo Brands Inc.(DTC) Company Profile
Solo Brands, Inc. operates a direct-to-consumer platform that offers outdoor 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; grills, cook tops, and tools; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories. It also offers swim trunks, casual shorts, sport products, polos, shirts, and lounge products under the Chubbies brand name; consumables, such as color packs, starters, natural charcoal, and firewood products; and accessories comprising shelters, shields, roasting sticks, tools, paddles, and pumps under the Solo Stove, Oru, and ISLE brands. The company was founded in 2011 and is headquartered in Grapevine, Texas.
