Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Solo Brands Inc. shares valued at $100,638 were purchased by Powers David on Mar 15. At $6.49 per share, Powers David acquired 15,500 shares. The insider’s holdings grew to 15,500 shares worth approximately $92225.0 following the completion of this transaction.
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Also, Merris John purchased 5,533 shares, netting a total of over 21,152 in proceeds. Following the buying of shares at $3.82 each, the insider now holds 144,552 shares.
Before that, Webb Somer had added 45,000 shares to its account. In a trade valued at $184,500, the Chief Financial Officer bought Solo Brands Inc. shares for $4.10 each. Upon closing the transaction, the insider’s holdings increased to 45,000 shares, worth approximately $0.69 million.
As published in their initiating research note from Canaccord Genuity on November 17, 2022, Solo Brands Inc. [DTC] has been a Buy and the price target has been revised to $7. This represents a 15.0% premium over Thursday’s closing price. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid January. As of November 22, 2021, William Blair has initiated its “an Outperform” rating for DTC. Earlier on November 22, 2021, Piper Sandler initiated its rating. Their recommendation was “an Overweight” for DTC stock.
Analyzing DTC Stock Performance
On Thursday, Solo Brands Inc. [NYSE: DTC] plunged -5.41% to $5.95. The stock’s lowest price that day was $5.86, but it reached a high of $6.29 in the same session. During the last five days, there has been a surge of approximately 31.35%. Over the course of the year, Solo Brands Inc. shares have jumped approximately 59.95%. Shares of the company reached a 52-week high of $6.75 on 03/14/23 and a 52-week low of $3.64 on 01/03/23. A 50-day SMA is recorded $4.41, while a 200-day SMA reached $4.41. Nevertheless, trading volume fell to 0.56 million shares from 1.0 million shares the previous day.
Support And Resistance Levels for Solo Brands Inc. (DTC)
According to the 24-hour chart, there is a support level at 5.78, which, if violated, would cause prices to drop to 5.60. In the upper region, resistance lies at 6.21. The next price resistance is at 6.46. RSI (Relative Strength Index) is 67.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.49, which suggests the price will increase in the coming days. Percent R is at 27.12%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Solo Brands Inc. subject to short interest?
Stocks of Solo Brands Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.2 million shares to 1.07 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 0.87 million shares. A jump of 19.13% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.52 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.52.
Which companies own the most shares of Solo Brands Inc. (DTC)?
According to Neuberger Berman Investment Advis filings, the company currently owns 6,882,881 shares, which is about 10.82% of the total DTC shares outstanding. With the completion of the buy transaction, American Century Investment Manag’s stake is now worth $12,820,078. Wasatch Advisors, Inc. reduced a -1.02% interest valued at $6.04 million while The Vanguard Group, Inc. sold a -325,137 stake. A total of 18,596 shares of Solo Brands Inc. were sold by BlackRock Fund Advisors during the quarter, and 648,675 were bought by Hodges Capital Management, Inc. In its current portfolio, Divisadero Street Capital Managem holds 457,000 shares valued at $1.89 million.
In terms of Solo Brands Inc. share price expectations, FactSet research, analysts set an average price target of $9.17 in the next 12 months, up nearly 51.03% from the previous closing price of $6.29. Analysts anticipate Solo Brands Inc. stock to reach $10.00 by 2023, with the lowest price target being $8.00. In spite of this, 6 analysts ranked Solo Brands Inc. stock as a Buy at the end of 2023. On November 22, 2021, JP Morgan assigned a price target of “an Overweight” to the stock and initiated coverage with a $27.