BRC Inc. (NYSE:BRCC) Short Interest Up 9.4% in August

BRC Inc. (NYSE:BRCC) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 8,580,000 shares, an increase of 9.4% from the August 15th total of 7,840,000 shares. Currently, 12.8% of the company’s shares are short sold. Based on an average daily trading volume, of 1,180,000 shares, the short-interest ratio is currently 7.3 days.

Insider Activity at BRC

In related news, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $3.81, for a total transaction of $41,468.04. Following the transaction, the director now owns 15,851 shares in the company, valued at approximately $60,392.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Evan Hafer sold 3,000,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total transaction of $9,600,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas E. Davin sold 10,884 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $3.81, for a total value of $41,468.04. Following the completion of the sale, the director now owns 15,851 shares in the company, valued at approximately $60,392.31. The disclosure for this sale can be found here. Insiders have sold a total of 4,010,884 shares of company stock worth $12,811,468 over the last quarter. Company insiders own 73.80% of the company’s stock.

Institutional Trading of BRC

A number of large investors have recently made changes to their positions in the stock. Wasatch Advisors LP lifted its holdings in BRC by 334.0% during the first quarter. Wasatch Advisors LP now owns 1,459,418 shares of the company’s stock worth $6,246,000 after buying an additional 1,123,157 shares during the period. Blair William & Co. IL boosted its position in BRC by 370.2% during the second quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock valued at $4,921,000 after purchasing an additional 632,000 shares in the last quarter. Maso Capital Partners Ltd bought a new stake in BRC during the first quarter valued at about $2,140,000. Marshall Wace LLP raised its holdings in BRC by 76.4% in the second quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock worth $4,980,000 after purchasing an additional 351,757 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of BRC by 131.1% during the second quarter. Renaissance Technologies LLC now owns 419,300 shares of the company’s stock valued at $2,570,000 after buying an additional 237,869 shares during the last quarter. 16.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BRCC shares. Telsey Advisory Group reduced their price target on BRC from $8.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Roth Capital cut shares of BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Tigress Financial reaffirmed a “buy” rating and issued a $11.00 price objective on shares of BRC in a report on Wednesday, May 22nd. Roth Mkm cut shares of BRC from a “buy” rating to a “neutral” rating and reduced their target price for the company from $8.00 to $4.00 in a report on Friday, August 9th. Finally, DA Davidson restated a “buy” rating and issued a $5.50 price target on shares of BRC in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.63.

BRC Trading Up 1.5 %

Shares of BRC stock traded up $0.06 during trading on Wednesday, hitting $3.73. The stock had a trading volume of 1,278,526 shares, compared to its average volume of 952,316. BRC has a 12 month low of $2.51 and a 12 month high of $7.14. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 0.59. The firm’s fifty day simple moving average is $4.58 and its 200-day simple moving average is $4.93. The stock has a market cap of $791.64 million, a PE ratio of -20.69 and a beta of 1.18.

BRC (NYSE:BRCC) last announced its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). BRC had a positive return on equity of 17.53% and a negative net margin of 1.88%. The business had revenue of $89.02 million during the quarter, compared to analyst estimates of $101.54 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. As a group, sell-side analysts expect that BRC will post -0.02 EPS for the current fiscal year.

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.