Solo Brands, Inc. (NYSE:DTC) Short Interest Update

Solo Brands, Inc. (NYSE:DTC - Get Free Report) was the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 4,180,000 shares, a drop of 6.9% from the April 15th total of 4,490,000 shares. Approximately 15.1% of the company's stock are sold short. Based on an average trading volume of 650,100 shares, the short-interest ratio is currently 6.4 days.

Wall Street Analysts Forecast Growth

DTC has been the subject of several recent research reports. JPMorgan Chase & Co. cut shares of Solo Brands from an "overweight" rating to an "underweight" rating in a report on Friday, February 2nd. Jefferies Financial Group decreased their price objective on Solo Brands from $4.00 to $3.05 and set a "hold" rating for the company in a report on Friday, March 15th. B. Riley reissued a "neutral" rating and set a $2.20 price target (down from $4.00) on shares of Solo Brands in a research report on Friday, March 15th. Piper Sandler restated a "neutral" rating and issued a $3.00 price target (down from $4.00) on shares of Solo Brands in a research note on Friday, March 15th. Finally, Canaccord Genuity Group dropped their price objective on Solo Brands from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, 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 bought 100,000 shares of the stock in a transaction on Friday, March 15th. The stock was purchased at an average price of $2.27 per share, for a total transaction of $227,000.00. Following the acquisition, the chief executive officer now owns 100,000 shares in the company, valued at $227,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Solo Brands

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust acquired a new position in Solo Brands in the 4th quarter valued at $25,000. Principal Financial Group Inc. acquired a new position in shares of Solo Brands in the first quarter valued at about $43,000. AXQ Capital LP bought a new position in Solo Brands during the third quarter worth about $67,000. WINTON GROUP Ltd acquired a new stake in Solo Brands in the 3rd quarter worth about $71,000. Finally, Balboa Wealth Partners bought a new stake in Solo Brands in the 4th quarter valued at about $72,000. Institutional investors and hedge funds own 84.48% of the company's stock.

Solo Brands Stock Performance

DTC traded down $0.02 during trading hours on Friday, reaching $2.02. The company's stock had a trading volume of 325,362 shares, compared to its average volume of 377,284. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.80. The company's 50-day moving average is $2.02 and its 200-day moving average is $3.36. Solo Brands has a 52 week low of $1.74 and a 52 week high of $6.67. The firm has a market cap of $184.18 million, a PE ratio of -1.00, a price-to-earnings-growth ratio of 0.71 and a beta of 2.59.

Solo Brands (NYSE:DTC - Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $85.32 million during the quarter, compared to the consensus estimate of $80.48 million. Solo Brands had a negative net margin of 23.52% and a positive return on equity of 6.99%. During the same quarter in the previous year, the firm posted $0.09 EPS. On average, equities analysts forecast that Solo Brands will post 0.25 EPS for the current year.

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.