BRC (NYSE:BRCC) Stock Price Down 2.4%

BRC Inc. (NYSE:BRCC) was down 2.4% during trading on Thursday . The company traded as low as $3.61 and last traded at $3.63. Approximately 407,394 shares changed hands during trading, a decline of 57% from the average daily volume of 949,305 shares. The stock had previously closed at $3.72.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BRCC shares. DA Davidson reaffirmed a “buy” rating and set a $5.50 price target on shares of BRC in a research report on Wednesday. Roth Mkm lowered BRC from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $4.00 in a research report on Friday, August 9th. Roth Capital cut BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Telsey Advisory Group cut their target price on BRC from $8.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, BRC currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.63.

BRC Price Performance

The stock has a market cap of $715.50 million, a P/E ratio of -18.72 and a beta of 1.18. The company has a 50 day simple moving average of $4.50 and a 200 day simple moving average of $4.92. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

BRC (NYSE:BRCC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). BRC had a positive return on equity of 17.53% and a negative net margin of 1.88%. The company had revenue of $89.02 million for the quarter, compared to analysts’ expectations of $101.54 million. During the same quarter in the prior year, the business posted ($0.03) EPS. Sell-side analysts forecast that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at BRC

In other news, Director Thomas E. Davin sold 10,884 shares of the company’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 sale, the director now owns 15,851 shares in the company, valued at approximately $60,392.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Evan Hafer sold 1,000,000 shares of the stock in a transaction 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 SEC, which is available at the SEC website. Also, Director Thomas E. Davin sold 10,884 shares of the stock in a transaction on Monday, September 9th. The shares were 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 in the last 90 days. Corporate insiders own 73.80% of the company’s stock.

Institutional Investors Weigh In On BRC

A number of large investors have recently added to or reduced their stakes in BRCC. Blair William & Co. IL acquired a new position in BRC in the 1st quarter valued at $731,000. Wasatch Advisors LP acquired a new position in BRC in the 4th quarter valued at $1,221,000. Comerica Bank grew its holdings in BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock valued at $26,000 after buying an additional 4,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in BRC in the 1st quarter valued at $45,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in BRC in the 4th quarter valued at $72,000. Institutional investors own 16.29% of the company’s stock.

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.