BRC (NYSE:BRCC) Insider Evan Hafer Sells 2,724 Shares of Stock

BRC Inc. (NYSE:BRCC) insider Evan Hafer sold 2,724 shares of the firm’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $10.56, for a total value of $28,765.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Evan Hafer also recently made the following trade(s):

• On Tuesday, October 20th, Evan Hafer sold 5,572 shares of BRC stock. The shares were sold at an average price of $10.59, for a total value of $59,007.48.
• On Thursday, October 15th, Evan Hafer sold 15,304 shares of BRC stock. The shares were sold at an average price of $10.62, for a total value of $162,528.48.
• On Tuesday, October 13th, Evan Hafer sold 200 shares of BRC stock. The shares were sold at an average price of $10.51, for a total value of $2,102.00.

BRC Price Performance

Shares of BRCC opened at $10.60 on Wednesday. The stock has a 50 day simple moving average of $9.07 and a 200 day simple moving average of $11.00. BRC Inc. has a 52-week low of $6.00 and a 52-week high of $18.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.80 and a current ratio of 1.42. The firm has a market capitalization of $265.21 million, a PE ratio of -35.32 and a beta of 1.25.

Hedge Funds Weigh In On BRC

Several hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP grew its stake in shares of BRC by 83.2% during the 2nd quarter. Engineers Gate Manager LP now owns 24,326 shares of the company’s stock worth $27,000 after acquiring an additional 11,048 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of BRC by 53.8% in the second quarter. Squarepoint Ops LLC now owns 72,944 shares of the company’s stock worth $81,000 after purchasing an additional 25,519 shares in the last quarter. Zazove Associates LLC lifted its position in shares of BRC by 270.7% in the first quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock worth $1,552,000 after purchasing an additional 1,460,546 shares in the last quarter. Bank of America Corp DE lifted its position in shares of BRC by 9.2% in the first 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 in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in BRC during the first quarter worth $232,000. 16.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BRCC has been the topic of a number of research reports. DA Davidson lifted their price target on shares of BRC from $2.50 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Craig Hallum initiated coverage on shares of BRC in a research report on Monday, August 3rd. They set a “buy” rating and a $17.50 price objective for the company. Finally, Weiss Ratings lowered shares of BRC from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, BRC currently has an average rating of “Moderate Buy” and an average target price of $22.50.

BRC Company Profile

Black Rifle Coffee Company (NYSE: BRCC) is a veteran-founded coffee and lifestyle company focused on producing, marketing and selling premium coffee and related products. Its offerings include whole-bean and ground coffee, single-serve options, ready-to-drink beverages and other packaged drinks.

The company sells its products through its e-commerce platform, subscription-based Coffee Club, wholesale and retail partners, and its own coffee shop locations. It also offers branded apparel, merchandise and gear, supported by media and content aimed at military, veteran, first-responder and outdoor communities.