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

Solo Brands (NYSE:DTC)‘s stock had its “hold” rating restated by Canaccord Genuity Group in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $1.00 price target on the stock, down from their prior price target of $3.00. Canaccord Genuity Group’s target price points to a potential upside of 309.84% from the stock’s current price.

Solo Brands Price Performance

Shares of DTC opened at $0.24 on Thursday. The firm’s fifty day simple moving average is $0.93 and its 200-day simple moving average is $1.17. The firm has a market capitalization of $22.37 million, a price-to-earnings ratio of -0.07 and a beta of 2.49. Solo Brands has a twelve month low of $0.23 and a twelve month high of $2.57. The company has a current ratio of 1.57, a quick ratio of 0.60 and a debt-to-equity ratio of 0.60.

Institutional Trading of Solo Brands

Several institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in shares of Solo Brands during the 3rd quarter valued at about $25,000. WINTON GROUP Ltd acquired a new stake in Solo Brands in the fourth quarter worth approximately $31,000. FMR LLC boosted its holdings in Solo Brands by 235.1% during the third quarter. FMR LLC now owns 30,232 shares of the company’s stock worth $43,000 after buying an additional 21,209 shares in the last quarter. Barclays PLC raised its holdings in Solo Brands by 562.2% during the 3rd quarter. Barclays PLC now owns 37,686 shares of the company’s stock worth $53,000 after buying an additional 31,995 shares during the period. Finally, Williams & Novak LLC boosted its position in Solo Brands by 156.1% during the 4th quarter. Williams & Novak LLC now owns 61,712 shares of the company’s stock worth $70,000 after acquiring an additional 37,612 shares during the period. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

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.