BRC (NYSE:BRCC) Share Price Crosses Below 200-Day Moving Average on Disappointing Earnings

BRC Inc. (NYSE:BRCC) shares crossed below its 200-day moving average during trading on Tuesday following a dissappointing earnings announcement. The stock has a 200-day moving average of $10.23 and traded as low as $8.03. BRC shares last traded at $9.6370, with a volume of 339,187 shares trading hands.

The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.34). The firm had revenue of $108.04 million for the quarter, compared to analysts’ expectations of $105.89 million. BRC had a negative return on equity of 9.44% and a negative net margin of 1.53%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BRCC. DA Davidson raised their target price on BRC from $2.50 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of BRC in a research report on Monday. Finally, Craig Hallum started coverage on shares of BRC in a research report on Monday, August 3rd. They set a “buy” rating and a $17.50 price target on the stock. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, BRC currently has an average rating of “Moderate Buy” and an average price target of $22.50.

Insider Buying and Selling at BRC

In other BRC news, insider Evan Hafer sold 15,304 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $10.62, for a total value of $162,528.48. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen M. Kadenacy sold 10,500 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $8.20, for a total value of $86,100.00. Following the completion of the transaction, the director directly owned 23,495 shares in the company, valued at $192,659. This trade represents a 30.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 46,300 shares of company stock valued at $474,943. Insiders own 54.87% of the company’s stock.

Institutional Investors Weigh In On BRC

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP boosted its holdings in shares of BRC by 83.2% in the second quarter. Engineers Gate Manager LP now owns 24,326 shares of the company’s stock valued at $27,000 after acquiring an additional 11,048 shares during the period. Kestra Private Wealth Services LLC increased its holdings in shares of BRC by 67.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 38,600 shares of the company’s stock valued at $30,000 after acquiring an additional 15,500 shares during the period. Kestra Advisory Services LLC raised its position in BRC by 63.0% in the 1st quarter. Kestra Advisory Services LLC now owns 69,001 shares of the company’s stock valued at $54,000 after purchasing an additional 26,672 shares during the last quarter. Modera Wealth Management LLC purchased a new stake in BRC in the 1st quarter valued at $78,000. Finally, Squarepoint Ops LLC raised its position in BRC by 53.8% in the 2nd quarter. Squarepoint Ops LLC now owns 72,944 shares of the company’s stock valued at $81,000 after purchasing an additional 25,519 shares during the last quarter. 16.29% of the stock is owned by hedge funds and other institutional investors.

BRC Stock Performance

The stock has a market cap of $241.21 million, a price-to-earnings ratio of -16.62 and a beta of 1.21. The stock’s 50 day moving average is $9.67 and its two-hundred day moving average is $10.23. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.40.

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 products. Its offerings include whole-bean and ground coffee, single-serve options, ready-to-drink beverages, tea, brewing equipment, apparel and other branded merchandise.

The company distributes its products through direct-to-consumer channels, including its online store and coffee subscription programs, as well as wholesale and retail partners.