BRC (NYSE:BRCC) Trading 11.1% Higher on Strong Earnings

BRC Inc. (NYSE:BRCC)’s share price traded up 11.1% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $3.52 and last traded at $3.51. 251,396 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 889,688 shares. The stock had previously closed at $3.16.

The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. BRC had a positive return on equity of 23.81% and a negative net margin of 1.22%. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.06 million. During the same period in the previous year, the firm posted ($0.05) earnings per share.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. DA Davidson restated a “buy” rating and set a $5.50 price target on shares of BRC in a report on Wednesday, September 18th. Roth Mkm restated a “neutral” rating and issued a $3.50 target price (down previously from $4.00) on shares of BRC in a report on Wednesday. Roth Capital lowered shares of BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $6.00 target price on shares of BRC in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, BRC has an average rating of “Moderate Buy” and a consensus target price of $6.50.

Insider Buying and Selling

In related news, Director Evan Hafer sold 1,000,000 shares of the business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Evan Hafer sold 1,000,000 shares of BRC 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas E. Davin sold 10,884 shares of the company’s 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 completion of the sale, the director now directly owns 15,851 shares of the company’s stock, valued at approximately $60,392.31. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,010,884 shares of company stock valued at $12,811,468 in the last 90 days. Company insiders own 73.80% of the company’s stock.

Hedge Funds Weigh In On BRC

Several institutional investors have recently bought and sold shares of the business. Blair William & Co. IL raised its holdings in BRC by 370.2% in the second quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock worth $4,921,000 after purchasing an additional 632,000 shares in the last quarter. Maso Capital Partners Ltd purchased a new stake in BRC during the first quarter valued at approximately $2,140,000. Marshall Wace LLP grew its holdings in BRC by 76.4% in the second quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock worth $4,980,000 after purchasing an additional 351,757 shares during the last quarter. Riverwater Partners LLC acquired a new position in shares of BRC during the third quarter worth $1,091,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of BRC by 131.1% during the 2nd quarter. Renaissance Technologies LLC now owns 419,300 shares of the company’s stock valued at $2,570,000 after purchasing an additional 237,869 shares during the last quarter. 16.29% of the stock is owned by hedge funds and other institutional investors.

BRC Price Performance

The stock has a 50-day moving average price of $3.48 and a two-hundred day moving average price of $4.65. 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 stock has a market cap of $680.06 million, a price-to-earnings ratio of -40.00 and a beta of 1.16.

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.