Solo Brands (NYSE:DTC) Stock Price Down 5% – Time to Sell?

Solo Brands, Inc. (NYSE:DTC) shares traded down 5% during trading on Friday . The stock traded as low as $3.44 and last traded at $3.61. 64,954 shares changed hands during trading, an increase of 98% from the average session volume of 32,785 shares. The stock had previously closed at $3.80.

Solo Brands Stock Performance

The company has a market capitalization of $8.33 million, a PE ratio of -0.04 and a beta of 4.81. The firm has a fifty day simple moving average of $5.02 and a 200 day simple moving average of $7.52.

Hedge Funds Weigh In On Solo Brands

Several hedge funds have recently made changes to their positions in the company. Summit Partners L P purchased a new position in shares of Solo Brands during the third quarter worth about $21,522,000. Barclays PLC grew its holdings 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 purchasing an additional 38,295 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Solo Brands during the third quarter worth about $197,000. Hedge funds and other 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.