Solo Brands (NYSE:DTC) Trading Down 1.8% – Here’s What Happened

Solo Brands, Inc. (NYSE:DTC) shares dropped 1.8% during mid-day trading on Thursday . The stock traded as low as $5.98 and last traded at $6.02. Approximately 10,656 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 15,880 shares. The stock had previously closed at $6.13.

Solo Brands Stock Performance

The firm has a 50 day moving average price of $7.86 and a two-hundred day moving average price of $12.11. The company has a market cap of $15.99 million, a P/E ratio of -0.08 and a beta of 4.81.

Institutional Trading of Solo Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC bought a new position in Solo Brands in the 3rd quarter worth approximately $197,000. Barclays PLC lifted its position in shares of Solo Brands by 1,914,750.0% during the third quarter. Barclays PLC now owns 38,297 shares of the company’s stock worth $749,000 after acquiring an additional 38,295 shares in the last quarter. Finally, Summit Partners L P purchased a new stake in shares of Solo Brands during the third quarter worth $21,522,000. Institutional investors own 84.48% of the company’s stock.

About Solo Brands

Solo Brands, Inc (NYSE: DTC) is an omni-channel outdoor lifestyle company that designs, markets and distributes a portfolio of consumer-focused brands. The company’s core business centers on developing innovative products for outdoor cooking, recreation and hunting enthusiasts. Through a direct-to-consumer e-commerce model and relationships with specialty and mass-market retailers, Solo Brands brings its products to customers in the United States, Canada and select international markets.

The Solo Stove brand offers stainless-steel, smokeless fire pits, portable camp stoves and related accessories designed for backyard and backcountry use.