BRC (NYSE:BRCC) Hits New 12-Month Low – Here’s Why

BRC Inc. (NYSE:BRCC) hit a new 52-week low on Tuesday . The company traded as low as $2.75 and last traded at $2.78, with a volume of 186762 shares trading hands. The stock had previously closed at $2.82.

Wall Street Analyst Weigh In

BRCC has been the topic of a number of research reports. Telsey Advisory Group restated an “outperform” rating and set a $6.00 target price on shares of BRC in a research report on Thursday, October 31st. Roth Mkm restated a “neutral” rating and issued a $3.50 price objective (down from $4.00) on shares of BRC in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, BRC presently has an average rating of “Moderate Buy” and a consensus price target of $6.50.

BRC Trading Down 3.7 %

The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.92. The company has a 50 day simple moving average of $3.03 and a 200 day simple moving average of $3.63. The stock has a market capitalization of $577.59 million, a PE ratio of -33.94 and a beta of 1.12.

BRC (NYSE:BRCC) last released its earnings results on Monday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.06 million. BRC had a positive return on equity of 23.35% and a negative net margin of 1.22%. During the same quarter in the previous year, the firm posted ($0.05) EPS. Analysts predict that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of BRC

A number of institutional investors have recently modified their holdings of BRCC. Engaged Capital LLC boosted its stake in shares of BRC by 5.3% in the third quarter. Engaged Capital LLC now owns 13,535,560 shares of the company’s stock valued at $46,292,000 after purchasing an additional 684,542 shares during the period. QVIDTVM Management LLC boosted its position in BRC by 24.2% in the 3rd quarter. QVIDTVM Management LLC now owns 3,219,929 shares of the company’s stock valued at $11,012,000 after buying an additional 627,653 shares during the last quarter. Riverwater Partners LLC acquired a new stake in shares of BRC during the third quarter valued at about $1,091,000. Verition Fund Management LLC increased its position in shares of BRC by 4,294.3% during the third quarter. Verition Fund Management LLC now owns 497,211 shares of the company’s stock worth $1,700,000 after acquiring an additional 485,896 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of BRC in the second quarter worth about $1,084,000. Hedge funds and other institutional investors own 16.29% of the company’s stock.

About BRC

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.