MYDA Advisors LLC Buys Shares of 70,000 Solo Brands, Inc. (NYSE:DTC)

MYDA Advisors LLC bought a new stake in shares of Solo Brands, Inc. (NYSE:DTCGet Rating) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 70,000 shares of the company’s stock, valued at approximately $1,094,000.

A number of other hedge funds have also made changes to their positions in DTC. Strs Ohio purchased a new stake in Solo Brands during the fourth quarter valued at approximately $42,000. Brown Advisory Inc. purchased a new stake in Solo Brands during the fourth quarter valued at approximately $164,000. Monashee Investment Management LLC purchased a new stake in Solo Brands during the fourth quarter valued at approximately $1,407,000. M&T Bank Corp purchased a new stake in Solo Brands during the fourth quarter valued at approximately $252,000. Finally, American Century Companies Inc. purchased a new stake in Solo Brands during the fourth quarter valued at approximately $25,447,000. 93.69% of the stock is owned by institutional investors and hedge funds.

Shares of DTC traded up $0.13 during mid-day trading on Tuesday, reaching $4.34. The stock had a trading volume of 22,791 shares, compared to its average volume of 652,335. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.41 and a quick ratio of 1.21. The business’s fifty day moving average price is $7.52. Solo Brands, Inc. has a 12 month low of $4.03 and a 12 month high of $23.39.

Solo Brands (NYSE:DTCGet Rating) last issued its earnings results on Thursday, May 12th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. The company had revenue of $82.20 million for the quarter, compared to the consensus estimate of $84.60 million. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. Equities analysts anticipate that Solo Brands, Inc. will post 1 earnings per share for the current year.

DTC has been the subject of a number of research reports. Credit Suisse Group reduced their target price on shares of Solo Brands from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, March 30th. Zacks Investment Research lowered shares of Solo Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, March 15th. Finally, Citigroup dropped their price target on shares of Solo Brands from $16.00 to $11.00 in a research report on Friday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $21.71.

Solo Brands Profile (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Solo Brands (NYSE:DTC)

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