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

BRC Inc. (NYSE:BRCC)’s stock price gapped up before the market opened 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 changing hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. DA Davidson reissued a “buy” rating and set a $5.50 price objective on shares of BRC in a report on Friday, September 6th. Roth Mkm downgraded BRC from a “buy” rating to a “neutral” rating and cut their price objective for the company from $8.00 to $4.00 in a report on Friday, August 9th. Tigress Financial reissued a “buy” rating and issued a $11.00 price objective on shares of BRC in a research report on Wednesday, May 22nd. Roth Capital downgraded shares of BRC from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Telsey Advisory Group dropped their price target on BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, BRC has an average rating of “Moderate Buy” and a consensus target price of $6.63.

BRC Stock Up 8.9 %

The company has a market cap of $756.57 million, a PE ratio of -19.39 and a beta of 1.18. The stock’s 50 day moving average price is $4.66 and its 200-day moving average price is $4.94. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 1.07.

BRC (NYSE:BRCC) last released its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $101.54 million. During the same quarter last year, the business posted ($0.03) EPS. On average, analysts predict that BRC Inc. will post -0.02 earnings per share for the current year.

Insiders Place Their Bets

In other BRC news, Director Evan Hafer sold 1,000,000 shares of BRC 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 filing with the SEC, which is available at this hyperlink. In other BRC news, Director Thomas E. Davin sold 10,884 shares of BRC stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $3.81, for a total value of $41,468.04. Following the transaction, the director now owns 15,851 shares in the company, valued at $60,392.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evan Hafer sold 1,000,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.17, for a total value of $3,170,000.00. The disclosure for this sale can be found here. Insiders sold a total of 4,010,884 shares of company stock worth $12,811,468 over the last three months. 73.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BRC

Several large investors have recently made changes to their positions in BRCC. Dynamic Technology Lab Private Ltd purchased a new stake in shares of BRC in the fourth quarter valued at approximately $72,000. Intrinsic Edge Capital Management LLC acquired a new stake in BRC in the 4th quarter valued at about $50,000. Wasatch Advisors LP purchased a new position in BRC in the fourth quarter worth approximately $1,221,000. Virtu Financial LLC purchased a new position in BRC in the fourth quarter valued at $169,000. Finally, Fortis Group Advisors LLC acquired a new stake in shares of BRC during the 1st quarter worth about $195,000. 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.