BRC (NYSE:BRCC) Shares Gap Up to $4.36

BRC Inc. (NYSE:BRCC) shares gapped up before the market opened on Thursday . The stock had previously closed at $4.36, but opened at $4.51. BRC shares last traded at $4.53, with a volume of 56,048 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Roth Mkm downgraded BRC from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $8.00 to $4.00 in a research note on Friday, August 9th. Tigress Financial reaffirmed a “buy” rating and set a $11.00 target price on shares of BRC in a report on Wednesday, May 22nd. Needham & Company LLC restated a “hold” rating on shares of BRC in a report on Thursday, May 16th. Roth Capital downgraded BRC from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Telsey Advisory Group decreased their price target on shares of 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 assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.63.

BRC Stock Performance

The firm has a market cap of $828.03 million, a PE ratio of -21.67 and a beta of 1.18. The firm’s 50 day simple moving average is $4.97 and its 200 day simple moving average is $4.95. The company has a current ratio of 1.07, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

BRC (NYSE:BRCC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $89.02 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned ($0.03) EPS. On average, research analysts forecast that BRC Inc. will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank grew 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 acquiring an additional 4,600 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of BRC in the 2nd quarter valued at approximately $28,000. The Manufacturers Life Insurance Company grew its position in BRC by 32.9% during the second quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock worth $125,000 after buying an additional 5,064 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of BRC in the first quarter valued at $45,000. Finally, Fortis Group Advisors LLC raised its position in BRC by 25.0% during the second quarter. Fortis Group Advisors LLC now owns 56,925 shares of the company’s stock worth $349,000 after acquiring an additional 11,388 shares during the last quarter. Hedge funds and other institutional investors 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.