BRC Inc. (NYSE:BRCC) Short Interest Up 8.7% in June

BRC Inc. (NYSE:BRCC) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 8,270,000 shares, a growth of 8.7% from the June 15th total of 7,610,000 shares. Based on an average trading volume of 892,300 shares, the days-to-cover ratio is presently 9.3 days. Currently, 13.0% of the company’s stock are sold short.

BRC Price Performance

BRCC traded down $0.38 during midday trading on Thursday, reaching $5.49. 509,794 shares of the company’s stock were exchanged, compared to its average volume of 833,324. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -31.22 and a beta of 1.22. The company has a quick ratio of 0.51, a current ratio of 1.07 and a debt-to-equity ratio of 1.02. BRC has a one year low of $2.51 and a one year high of $7.14. The business has a 50-day simple moving average of $5.93 and a two-hundred day simple moving average of $4.79.

BRC (NYSE:BRCC) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $98.39 million during the quarter, compared to analysts’ expectations of $97.78 million. BRC had a negative net margin of 2.78% and a positive return on equity of 14.15%. As a group, research analysts predict that BRC will post 0.03 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on BRCC. Roth Mkm reaffirmed a “buy” rating and issued a $7.00 price target (up from $6.00) on shares of BRC in a research note on Friday, May 10th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $8.00 price target on shares of BRC in a research note on Wednesday, July 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of BRC in a research note on Thursday, May 16th. Finally, Tigress Financial reissued a “buy” rating and set a $11.00 target price on shares of BRC in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Institutional Trading of BRC

Several hedge funds have recently modified their holdings of the company. Comerica Bank increased its holdings in shares of BRC by 316.4% during the first quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after buying an additional 4,600 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of BRC by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,162,960 shares of the company’s stock worth $17,817,000 after buying an additional 14,361 shares in the last quarter. Magnolia Wealth Management LLC acquired a new stake in shares of BRC during the first quarter worth approximately $254,000. Maso Capital Partners Ltd acquired a new stake in shares of BRC during the first quarter worth approximately $2,140,000. Finally, Blair William & Co. IL acquired a new stake in shares of BRC in the first quarter valued at approximately $731,000. 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.