BRC (NYSE:BRCC) Shares Down 2.4%

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Roth Mkm cut 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. DA Davidson reiterated a “buy” rating and set a $5.50 price target on shares of BRC in a research report on Wednesday. Tigress Financial reiterated a “buy” rating and set a $11.00 price target on shares of BRC in a research report on Wednesday, May 22nd. 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 report on Friday, August 9th. Finally, Roth Capital cut BRC from a “strong-buy” rating to a “hold” rating 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.com, BRC currently has an average rating of “Moderate Buy” and a consensus price target of $6.63.

BRC Trading Down 4.0 %

The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a fifty day simple moving average of $4.58 and a 200-day simple moving average of $4.93. The company has a market capitalization of $758.70 million, a PE ratio of -20.69 and a beta of 1.18.

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

Insider Transactions at BRC

In other 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 transaction of $3,170,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Thomas E. Davin sold 10,884 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Evan Hafer sold 1,000,000 shares of the stock in a transaction dated Friday, September 13th. The stock was 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. In the last ninety days, insiders sold 4,010,884 shares of company stock worth $12,811,468. 73.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BRC

Hedge funds have recently bought and sold shares of the company. Blair William & Co. IL acquired a new stake in BRC in the 1st quarter valued at about $731,000. Wasatch Advisors LP acquired a new stake in BRC in the 4th quarter valued at about $1,221,000. Comerica Bank raised its position 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 purchasing an additional 4,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in BRC in the 1st quarter valued at about $45,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in BRC in the 4th quarter valued at about $72,000. Institutional investors and hedge funds 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.