BRC (NYSE:BRCC) Trading Up 6.1% – What’s Next?

BRC Inc. (NYSE:BRCC)’s share price was up 6.1% during mid-day trading on Wednesday . The stock traded as high as $3.15 and last traded at $3.15. Approximately 538,402 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 880,701 shares. The stock had previously closed at $2.97.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BRCC shares. Telsey Advisory Group restated an “outperform” rating and issued a $6.00 price target on shares of BRC in a report on Thursday, October 31st. DA Davidson reiterated a “buy” rating and set a $5.50 price objective on shares of BRC in a report on Wednesday, September 18th. Finally, Roth Mkm reiterated a “neutral” rating and set a $3.50 price objective (down from $4.00) on shares of BRC in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, BRC has a consensus rating of “Moderate Buy” and an average price target of $6.50.

BRC Stock Up 5.1 %

The firm has a 50-day moving average of $3.16 and a 200 day moving average of $4.36. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 0.58. The stock has a market capitalization of $663.76 million, a price-to-earnings ratio of -37.25 and a beta of 1.14.

BRC (NYSE:BRCC) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. BRC had a positive return on equity of 23.35% and a negative net margin of 1.22%. The firm had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.06 million. During the same period in the prior year, the firm posted ($0.05) earnings per share. As a group, sell-side analysts forecast that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Activity at BRC

In other news, Director Evan Hafer sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.17, for a total value of $3,170,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 73.80% of the company’s stock.

Institutional Trading of BRC

A number of hedge funds have recently made changes to their positions in the business. Comerica Bank lifted its position in shares of BRC by 316.4% in the first quarter. Comerica Bank now owns 6,054 shares of the company’s stock valued at $26,000 after buying an additional 4,600 shares during the last quarter. nVerses Capital LLC acquired a new stake in BRC during the 2nd quarter worth approximately $28,000. The Manufacturers Life Insurance Company lifted its holdings in BRC by 32.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock worth $125,000 after purchasing an additional 5,064 shares during the last quarter. Geode Capital Management LLC lifted its holdings in BRC by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,073,638 shares of the company’s stock worth $3,673,000 after purchasing an additional 10,100 shares during the last quarter. Finally, Fortis Group Advisors LLC lifted its holdings in BRC by 25.0% during the 2nd quarter. Fortis Group Advisors LLC now owns 56,925 shares of the company’s stock worth $349,000 after purchasing an additional 11,388 shares during the last quarter. 16.29% of the stock is owned by institutional investors and hedge funds.

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.