Williams & Novak LLC Grows Position in Solo Brands, Inc. (NYSE:DTC)

Williams & Novak LLC lifted its position in shares of Solo Brands, Inc. (NYSE:DTC) by 156.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 61,712 shares of the company’s stock after acquiring an additional 37,612 shares during the period. Williams & Novak LLC’s holdings in Solo Brands were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in DTC. XTX Topco Ltd acquired a new stake in shares of Solo Brands in the third quarter valued at about $25,000. FMR LLC raised its position in shares of Solo Brands by 235.1% during the 3rd quarter. FMR LLC now owns 30,232 shares of the company’s stock valued at $43,000 after buying an additional 21,209 shares during the period. Barclays PLC boosted its stake in Solo Brands by 562.2% during the third 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. Lakewood Asset Management LLC lifted its stake in Solo Brands by 42.5% during the 3rd quarter. Lakewood Asset Management LLC now owns 81,523 shares of the company’s stock worth $115,000 after acquiring an additional 24,325 shares in the last quarter. Finally, Verition Fund Management LLC raised its stake in shares of Solo Brands by 668.6% in the third quarter. Verition Fund Management LLC now owns 99,780 shares of the company’s stock valued at $141,000 after acquiring an additional 86,798 shares in the last quarter. 84.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $3.00 target price on shares of Solo Brands in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Solo Brands currently has an average rating of “Hold” and a consensus price target of $2.52.

Solo Brands Stock Performance

NYSE DTC opened at $1.04 on Wednesday. The business’s 50 day moving average is $1.12 and its two-hundred day moving average is $1.40. Solo Brands, Inc. has a 12-month low of $1.02 and a 12-month high of $3.03. The company has a current ratio of 1.57, a quick ratio of 0.60 and a debt-to-equity ratio of 0.60.

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.