BRC (NYSE:BRCC) Shares Up 3.3% – Here’s What Happened

Shares of BRC Inc. (NYSE:BRCC) rose 3.3% during mid-day trading on Monday . The company traded as high as $3.15 and last traded at $3.15. Approximately 248,287 shares were traded during trading, a decline of 72% from the average daily volume of 877,201 shares. The stock had previously closed at $3.05.

Analyst Ratings Changes

Several equities research analysts have recently commented on BRCC shares. 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. Telsey Advisory Group restated an “outperform” rating and issued a $6.00 price target on shares of BRC in a research report on Thursday, October 31st. Finally, DA Davidson reaffirmed a “buy” rating and issued a $5.50 price objective on shares of BRC in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, BRC presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.50.

BRC Price Performance

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 stock has a 50 day simple moving average of $3.06 and a 200-day simple moving average of $4.09. The firm has a market cap of $676.52 million, a PE ratio of -39.75 and a beta of 1.14.

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. BRC had a positive return on equity of 23.35% and a negative net margin of 1.22%. The firm had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.06 million. During the same quarter last year, the business posted ($0.05) earnings per share. Equities analysts anticipate that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of BRC

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of BRC by 325.9% during the 3rd quarter. Barclays PLC now owns 74,967 shares of the company’s stock valued at $257,000 after purchasing an additional 57,366 shares during the last quarter. Geode Capital Management LLC boosted its stake in BRC by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,073,638 shares of the company’s stock valued at $3,673,000 after buying an additional 10,100 shares during the last quarter. State Street Corp grew its holdings in BRC by 3.2% during the 3rd quarter. State Street Corp now owns 955,717 shares of the company’s stock valued at $3,269,000 after buying an additional 29,596 shares in the last quarter. Quadrature Capital Ltd purchased a new position in BRC during the 3rd quarter valued at approximately $75,000. Finally, HighTower Advisors LLC increased its stake in BRC by 153.4% in the 3rd quarter. HighTower Advisors LLC now owns 27,521 shares of the company’s stock worth $91,000 after acquiring an additional 16,661 shares during the last quarter. 16.29% of the stock is currently owned by institutional investors.

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.