BRC Shares Scheduled to Reverse Split on Monday, August 24th (NYSE:BRCC)

Shares of BRC Inc. (NYSE:BRCC) are going to reverse split on Monday, August 24th. The 1-10 reverse split was announced on Monday, August 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, August 21st.

BRC Stock Performance

Shares of NYSE BRCC opened at $0.85 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $213.25 million, a price-to-earnings ratio of -28.40 and a beta of 1.25. The stock’s fifty day simple moving average is $1.14 and its 200 day simple moving average is $1.06. BRC has a 52-week low of $0.60 and a 52-week high of $1.85.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wall Street Zen upgraded BRC from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. DA Davidson restated a “buy” rating and issued a $2.50 price objective on shares of BRC in a research note on Wednesday, August 5th. Weiss Ratings cut shares of BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 4th. Finally, Craig Hallum began coverage on shares of BRC in a report on Monday, August 3rd. They set a “buy” rating and a $1.75 price objective for the company. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2.25.

Insider Buying and Selling at BRC

In related news, insider Evan Hafer sold 2,000,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1.49, for a total transaction of $2,980,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 54.87% of the company’s stock.

Institutional Trading of BRC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zazove Associates LLC raised its stake in BRC by 270.7% during the 1st quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock valued at $1,552,000 after purchasing an additional 1,460,546 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in BRC in the 4th quarter worth $325,000. Kestra Private Wealth Services LLC acquired a new stake in BRC in the 4th quarter worth $26,000. JPMorgan Chase & Co. increased its holdings in shares of BRC by 30.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,955 shares of the company’s stock worth $61,000 after purchasing an additional 9,102 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of BRC by 9.2% during the 1st quarter. Bank of America Corp DE now owns 142,209 shares of the company’s stock worth $110,000 after purchasing an additional 11,933 shares during the period. Institutional investors and hedge funds own 16.29% of the company’s stock.

BRC Company Profile

Black Rifle Coffee Company, Inc is a veteran-owned specialty coffee roaster and retailer that offers a range of coffee products, merchandise and subscription services. The company sources, roasts and distributes its own blends and single-origin coffees, as well as ready-to-drink beverages and branded apparel. Its product lineup includes whole-bean and ground coffees, cold brew concentrates, K-cup pods and limited-edition small-batch offerings designed to appeal to active lifestyle and patriotic consumers.

Founded in 2014 by U.S.