BRC Inc. (NYSE:BRCC) Short Interest Up 9.1% in July

BRC Inc. (NYSE:BRCC) was the target of a large growth in short interest in 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. Currently, 14.1% of the shares of the company are short sold. Based on an average daily trading volume, of 956,800 shares, the short-interest ratio is presently 9.4 days.

BRC Stock Down 0.9 %

BRCC stock traded down $0.05 on Tuesday, hitting $5.48. The company had a trading volume of 157,559 shares, compared to its average volume of 821,527. BRC has a 12-month low of $2.51 and a 12-month high of $7.14. The company has a current ratio of 1.07, a quick ratio of 0.51 and a debt-to-equity ratio of 1.02. The stock’s 50-day simple moving average is $5.95 and its 200 day simple moving average is $4.88.

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

Institutional Investors Weigh In On BRC

Several institutional investors have recently added to or reduced their stakes in the business. Blair William & Co. IL acquired a new stake in BRC during the 1st quarter valued at approximately $731,000. Wasatch Advisors LP acquired a new position in shares of BRC in the 4th quarter worth approximately $1,221,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of BRC during the first quarter worth about $45,000. Allworth Financial LP raised its stake in shares of BRC by 83.6% in the fourth quarter. Allworth Financial LP now owns 9,776 shares of the company’s stock valued at $35,000 after acquiring an additional 4,450 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in BRC in the fourth quarter valued at approximately $72,000. Institutional investors and hedge funds own 16.29% of the company’s stock.

Analyst Upgrades and Downgrades

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