Solo Brands (NYSE:DTC) Stock Price Down 11.3% - Here's Why

Shares of Solo Brands, Inc. (NYSE:DTC - Get Free Report) were down 11.3% on Monday . The company traded as low as $17.02 and last traded at $18.72. Approximately 10,775 shares traded hands during trading, a decline of 98% from the average daily volume of 495,981 shares. The stock had previously closed at $21.10.

Solo Brands Price Performance

The firm has a market capitalization of $48.93 million, a price-to-earnings ratio of -0.25 and a beta of 4.81. The firm's fifty day moving average is $9.52 and its 200 day moving average is $17.02.

Institutional Investors Weigh In On Solo Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. lifted its holdings in Solo Brands by 1.8% in the 4th quarter. Prudential Financial Inc. now owns 809,320 shares of the company's stock worth $923,000 after purchasing an additional 14,200 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in Solo Brands by 2.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 782,105 shares of the company's stock worth $892,000 after purchasing an additional 20,390 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Solo Brands by 2.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 547,307 shares of the company's stock valued at $624,000 after buying an additional 11,025 shares during the last quarter. Marshall Wace LLP grew its holdings in Solo Brands by 13.6% in the 4th quarter. Marshall Wace LLP now owns 231,988 shares of the company's stock valued at $264,000 after buying an additional 27,701 shares during the last quarter. Finally, Nexpoint Asset Management L.P. acquired a new stake in Solo Brands in the 4th quarter valued at approximately $166,000. 84.48% of the stock is currently owned by institutional investors and hedge funds.

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.