Solo Brands (NYSE:DTC – Get Rating) issued its quarterly earnings results on Thursday. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.11, MarketWatch Earnings reports. The business had revenue of $82.20 million during the quarter, compared to analyst estimates of $84.60 million. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Solo Brands updated its FY 2022 guidance to EPS.
Shares of Solo Brands stock traded down $0.08 during trading on Friday, hitting $4.80. 838,519 shares of the stock were exchanged, compared to its average volume of 561,128. 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 stock has a fifty day moving average of $7.62. Solo Brands has a 1-year low of $4.24 and a 1-year high of $23.39.
Several hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its holdings in shares of Solo Brands by 70.9% during the 1st quarter. Renaissance Technologies LLC now owns 84,094 shares of the company’s stock worth $717,000 after buying an additional 34,894 shares during the period. Northern Trust Corp boosted its holdings in shares of Solo Brands by 11.1% during the 1st quarter. Northern Trust Corp now owns 126,579 shares of the company’s stock worth $1,080,000 after buying an additional 12,639 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Solo Brands by 10.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 99,487 shares of the company’s stock worth $849,000 after buying an additional 9,553 shares during the period. Wasatch Advisors Inc. boosted its holdings in shares of Solo Brands by 7.5% during the 1st quarter. Wasatch Advisors Inc. now owns 2,405,527 shares of the company’s stock worth $20,519,000 after buying an additional 167,806 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of Solo Brands by 1.0% during the 1st quarter. Clearbridge Investments LLC now owns 945,277 shares of the company’s stock worth $8,063,000 after buying an additional 9,591 shares during the period. 93.69% of the stock is owned by institutional investors and hedge funds.
Solo Brands Company 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.
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