Solo Brands (NYSE:DTC) Trading 1.7% Higher – Here’s What Happened

Solo Brands, Inc. (NYSE:DTC) traded up 1.7% on Wednesday . The company traded as high as $7.6007 and last traded at $7.13. 25,185 shares changed hands during trading, an increase of 59% from the average session volume of 15,880 shares. The stock had previously closed at $7.01.

Solo Brands Stock Up 1.7%

The company has a market cap of $16.46 million, a price-to-earnings ratio of -0.09 and a beta of 4.81. The company has a 50 day moving average price of $6.71 and a 200-day moving average price of $9.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC acquired a new stake in shares of Solo Brands in the 3rd quarter valued at about $197,000. Barclays PLC raised its position in Solo Brands by 1,914,750.0% in the 3rd quarter. Barclays PLC now owns 38,297 shares of the company’s stock valued at $749,000 after buying an additional 38,295 shares during the last quarter. Finally, Summit Partners L P bought a new position in shares of Solo Brands during the third quarter valued at about $21,522,000. 84.48% of the stock is owned by institutional investors.

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.