BRC (NYSE:BRCC) Price Target Lowered to $3.00 at DA Davidson

BRC (NYSE:BRCC) had its price target trimmed by DA Davidson from $5.00 to $3.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently issued reports on BRCC. Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 price objective on shares of BRC in a report on Tuesday. Roth Mkm reaffirmed a “neutral” rating and set a $2.50 price objective (down previously from $3.50) on shares of BRC in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.63.

BRC Stock Up 0.7 %

NYSE BRCC opened at $2.14 on Wednesday. The firm has a market cap of $454.21 million, a PE ratio of -26.69 and a beta of 1.09. BRC has a one year low of $2.01 and a one year high of $7.14. The stock’s 50 day simple moving average is $2.77 and its 200 day simple moving average is $3.15. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 0.58.

Hedge Funds Weigh In On BRC

Several hedge funds have recently modified their holdings of BRCC. Millennium Management LLC lifted its stake in BRC by 1,018.3% in the 4th quarter. Millennium Management LLC now owns 1,798,148 shares of the company’s stock valued at $5,700,000 after purchasing an additional 1,637,357 shares during the last quarter. Engaged Capital LLC raised its position 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 buying an additional 684,542 shares in the last quarter. QVIDTVM Management LLC raised its position 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 valued at $11,012,000 after buying an additional 627,653 shares in the last quarter. Verition Fund Management LLC raised its position in shares of 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 buying an additional 485,896 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in BRC by 697.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 445,764 shares of the company’s stock valued at $1,413,000 after acquiring an additional 389,833 shares during the last quarter. 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.