BRC Inc. (NYSE:BRCC) Sees Significant Increase in Short Interest

BRC Inc. (NYSE:BRCC) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 9,020,000 shares, a growth of 9.1% from the June 30th total of 8,270,000 shares. Approximately 14.1% of the company’s shares are sold short. Based on an average trading volume of 956,800 shares, the days-to-cover ratio is currently 9.4 days.

Institutional Trading of BRC

A number of hedge funds have recently bought and sold shares of BRCC. Vanguard Group Inc. lifted its holdings in shares of BRC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 4,162,960 shares of the company’s stock valued at $17,817,000 after purchasing an additional 14,361 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of BRC by 334.0% during the 1st quarter. Wasatch Advisors LP now owns 1,459,418 shares of the company’s stock valued at $6,246,000 after purchasing an additional 1,123,157 shares during the last quarter. Maso Capital Partners Ltd purchased a new stake in shares of BRC during the 1st quarter valued at $2,140,000. Hollencrest Capital Management lifted its holdings in shares of BRC by 40.8% during the 1st quarter. Hollencrest Capital Management now owns 262,820 shares of the company’s stock valued at $1,125,000 after purchasing an additional 76,120 shares during the last quarter. Finally, Blair William & Co. IL purchased a new stake in shares of BRC during the 1st quarter valued at $731,000. Hedge funds and other institutional investors own 16.29% of the company’s stock.

BRC Stock Performance

BRC stock opened at $5.71 on Thursday. The business has a fifty day moving average of $5.95 and a two-hundred day moving average of $4.90. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.51 and a current ratio of 1.07. BRC has a twelve month low of $2.51 and a twelve month high of $7.14.

BRC (NYSE:BRCC) last posted its earnings results on Wednesday, May 8th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $98.39 million during the quarter, compared to analyst estimates of $97.78 million. BRC had a positive return on equity of 14.15% and a negative net margin of 2.78%. On average, research analysts predict that BRC will post 0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of BRC in a research note on Thursday, May 16th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $8.00 target price on shares of BRC in a research note on Wednesday, July 10th. Roth Mkm reaffirmed a “buy” rating and set a $7.00 target price (up previously from $6.00) on shares of BRC in a research note on Friday, May 10th. Finally, Tigress Financial reissued a “buy” rating and issued a $11.00 price objective on shares of BRC in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

BRC Company Profile

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.