BRC Inc. (NYSE:BRCC) Sees Large Decline in Short Interest

BRC Inc. (NYSE:BRCC) was the target of a large decrease in short interest in May. As of May 31st, there was short interest totalling 7,570,000 shares, a decrease of 6.0% from the May 15th total of 8,050,000 shares. Based on an average trading volume of 873,000 shares, the short-interest ratio is presently 8.7 days. Approximately 11.9% of the shares of the company are short sold.

BRC Trading Down 1.6 %

NYSE:BRCC opened at $6.23 on Thursday. BRC has a 1 year low of $2.51 and a 1 year high of $6.49. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -34.61 and a beta of 1.21. The business has a fifty day moving average of $5.16 and a 200-day moving average of $4.49. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.51 and a current ratio of 1.07.

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, topping the consensus estimate of ($0.03) by $0.04. BRC had a positive return on equity of 14.15% and a negative net margin of 2.78%. The company had revenue of $98.39 million during the quarter, compared to analysts’ expectations of $97.78 million. Equities analysts predict that BRC will post 0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BRCC. PNC Financial Services Group Inc. lifted its holdings in shares of BRC by 106,550.0% in the third quarter. PNC Financial Services Group Inc. now owns 479,925 shares of the company’s stock valued at $1,723,000 after buying an additional 479,475 shares during the period. QVIDTVM Management LLC lifted its holdings in shares of BRC by 19.9% in the third quarter. QVIDTVM Management LLC now owns 2,477,346 shares of the company’s stock valued at $8,894,000 after buying an additional 411,231 shares during the period. Hollencrest Capital Management lifted its holdings in shares of BRC by 9.3% in the third quarter. Hollencrest Capital Management now owns 106,222 shares of the company’s stock valued at $381,000 after buying an additional 9,000 shares during the period. Wesbanco Bank Inc. acquired a new stake in shares of BRC in the third quarter valued at $258,000. Finally, SG Americas Securities LLC acquired a new stake in shares of BRC in the fourth quarter valued at $37,000. Institutional investors own 16.29% of the company’s stock.

Analyst Ratings Changes

BRCC has been the subject of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of BRC in a research note on Thursday, May 16th. Telsey Advisory Group restated an “outperform” rating and set a $8.00 price objective on shares of BRC in a research note on Monday, May 6th. Roth Mkm restated a “buy” rating and set a $7.00 price objective (up from $6.00) on shares of BRC in a research note on Friday, May 10th. Finally, Tigress Financial restated a “buy” rating and set a $11.00 price objective on shares of BRC in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

About BRC

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.