BRC (NYSE:BRCC) Shares Gap Up to $3.27

Shares of BRC Inc. (NYSE:BRCC) gapped up prior to trading on Tuesday . The stock had previously closed at $3.27, but opened at $3.48. BRC shares last traded at $3.37, with a volume of 198,817 shares traded.

Analyst Upgrades and Downgrades

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

BRC Stock Up 1.5 %

The business has a 50-day moving average price of $4.58 and a 200-day moving average price of $4.93. The firm has a market capitalization of $791.64 million, a PE ratio of -20.69 and a beta of 1.18. The company has a quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 1.01.

BRC (NYSE:BRCC) last issued its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. The company had revenue of $89.02 million for the quarter, compared to the consensus estimate of $101.54 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. Equities research analysts forecast that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Activity

In other BRC news, Director Thomas E. Davin sold 10,884 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $3.81, for a total transaction of $41,468.04. Following the completion of the transaction, the director now owns 15,851 shares of the company’s stock, valued at $60,392.31. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Evan Hafer sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total value of $9,600,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was 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 of the company’s stock, 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 valued at $12,811,468 in the last quarter. Insiders own 73.80% of the company’s stock.

Institutional Trading of BRC

A number of hedge funds and other institutional investors have recently bought and sold shares of BRCC. Comerica Bank boosted its position in shares of BRC by 316.4% during the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after acquiring an additional 4,600 shares in the last quarter. nVerses Capital LLC acquired a new stake in BRC during the second quarter worth approximately $28,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of BRC during the 1st quarter worth approximately $45,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of BRC in the 4th quarter valued at $50,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in BRC during the 4th quarter worth $72,000. 16.29% of the stock is currently 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.