BRC (NYSE:BRCC) Trading Down 5% – Here’s Why

BRC Inc. (NYSE:BRCC) fell 5% during trading on Wednesday . The stock traded as low as $2.60 and last traded at $2.59. 242,991 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 738,212 shares. The stock had previously closed at $2.72.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BRCC. Telsey Advisory Group reissued an “outperform” rating and set a $6.00 price objective on shares of BRC in a research note 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 report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

BRC Stock Performance

The business has a fifty day moving average of $2.98 and a 200 day moving average of $3.48. The company has a market cap of $539.30 million, a P/E ratio of -31.69 and a beta of 1.09. The company has a quick ratio of 0.58, a current ratio of 1.14 and a debt-to-equity ratio of 0.92.

BRC (NYSE:BRCC) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $98.20 million during the quarter, compared to analyst estimates 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 last year, the firm posted ($0.05) earnings per share. On average, equities analysts predict that BRC Inc. will post -0.02 EPS for the current year.

Institutional Investors Weigh In On BRC

A number of institutional investors have recently made changes to their positions in BRCC. Engaged Capital LLC boosted its holdings in BRC by 5.3% in the third quarter. Engaged Capital LLC now owns 13,535,560 shares of the company’s stock worth $46,292,000 after purchasing an additional 684,542 shares during the last quarter. QVIDTVM Management LLC grew its holdings in shares of BRC by 24.2% in the third quarter. QVIDTVM Management LLC now owns 3,219,929 shares of the company’s stock worth $11,012,000 after acquiring an additional 627,653 shares during the period. Riverwater Partners LLC purchased a new stake in BRC during the third quarter valued at $1,091,000. Verition Fund Management LLC lifted its holdings in BRC by 4,294.3% in the third quarter. Verition Fund Management LLC now owns 497,211 shares of the company’s stock valued at $1,700,000 after acquiring an additional 485,896 shares during the period. Finally, Barclays PLC boosted its position in BRC by 325.9% in the third quarter. Barclays PLC now owns 74,967 shares of the company’s stock worth $257,000 after purchasing an additional 57,366 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.