Solo Brands, Inc. (NYSE:DTC) Short Interest Up 8.8% in March

Solo Brands, Inc. (NYSE:DTC - Get Free Report) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 4,700,000 shares, a growth of 8.8% from the February 29th total of 4,320,000 shares. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 4.5 days. Approximately 17.1% of the company's stock are short sold.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Jefferies Financial Group reduced their target price on Solo Brands from $4.00 to $3.05 and set a "hold" rating on the stock in a research report on Friday, March 15th. Citigroup lowered their target price on shares of Solo Brands from $4.00 to $3.00 and set a "neutral" rating for the company in a research note on Wednesday, March 6th. Craig Hallum lowered shares of Solo Brands from a "buy" rating to a "hold" rating and set a $5.00 price target on the stock. in a research note on Monday, January 8th. B. Riley reissued a "neutral" rating and set a $2.20 price objective (down from $4.00) on shares of Solo Brands in a report on Friday, March 15th. Finally, Piper Sandler reissued a "neutral" rating and issued a $3.00 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, the company presently has a consensus rating of "Hold" and a consensus price target of $3.54.

Insider Activity at Solo Brands

In other news, CEO Christopher T. Metz acquired 100,000 shares of the business's stock in a transaction dated Friday, March 15th. The shares were purchased at an average price of $2.27 per share, with a total value of $227,000.00. Following the transaction, the chief executive officer now directly owns 100,000 shares in the company, valued at $227,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust acquired a new stake in shares of Solo Brands during the 4th quarter valued at about $25,000. Citigroup Inc. acquired a new stake in Solo Brands in the second quarter valued at approximately $37,000. Quantbot Technologies LP purchased a new stake in shares of Solo Brands in the first quarter valued at approximately $56,000. Public Employees Retirement System of Ohio acquired a new position in shares of Solo Brands during the 4th quarter worth approximately $41,000. Finally, UBS Group AG raised its stake 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 buying an additional 9,253 shares during the period. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Solo Brands Stock Performance

Shares of NYSE DTC traded down $0.03 during trading on Tuesday, reaching $2.00. 1,121,385 shares of the company traded hands, compared to its average volume of 1,074,847. The stock has a market cap of $181.90 million, a P/E ratio of -1.03, a PEG ratio of 0.82 and a beta of 2.61. The firm's fifty day simple moving average is $2.53 and its 200 day simple moving average is $3.93. The company has a current ratio of 2.21, a quick ratio of 0.95 and a debt-to-equity ratio of 0.38. Solo Brands has a 12-month low of $1.96 and a 12-month high of $8.86.

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.