BRC (NYSE:BRCC) Sees Large Volume Increase – Here’s Why

BRC Inc. (NYSE:BRCC) shares saw unusually-strong trading volume on Wednesday . Approximately 696,539 shares changed hands during mid-day trading, a decline of 6% from the previous session’s volume of 737,191 shares.The stock last traded at $3.16 and had previously closed at $2.95.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BRCC shares. Roth Mkm reaffirmed a “neutral” rating and set a $3.50 price objective (down from $4.00) on shares of BRC in a research note on Wednesday, November 6th. DA Davidson restated a “buy” rating and set a $5.50 target price on shares of BRC in a research report on Wednesday, September 18th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $6.00 price target on shares of BRC in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, BRC currently has an average rating of “Moderate Buy” and a consensus target price of $6.50.

BRC Stock Up 5.8 %

The company has a market capitalization of $663.76 million, a P/E ratio of -39.00 and a beta of 1.12. The company has a quick ratio of 0.58, a current ratio of 1.14 and a debt-to-equity ratio of 0.92. The firm has a fifty day simple moving average of $3.04 and a 200-day simple moving average of $3.81.

BRC (NYSE:BRCC) last posted its earnings results on Monday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.06 million. During the same period in the prior year, the business earned ($0.05) EPS. On average, equities research analysts expect that BRC Inc. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On BRC

A number of large investors have recently added to or reduced their stakes in BRCC. Engaged Capital LLC boosted its position in shares of BRC by 5.3% during the third quarter. Engaged Capital LLC now owns 13,535,560 shares of the company’s stock worth $46,292,000 after buying an additional 684,542 shares during the period. QVIDTVM Management LLC boosted its position in BRC by 24.2% during the 3rd 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 last quarter. Geode Capital Management LLC grew its stake in shares of BRC by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,073,638 shares of the company’s stock worth $3,673,000 after acquiring an additional 10,100 shares in the last quarter. State Street Corp raised its holdings in shares of BRC by 3.2% in the third quarter. State Street Corp now owns 955,717 shares of the company’s stock valued at $3,269,000 after purchasing an additional 29,596 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of BRC by 76.4% in the second quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock valued at $4,980,000 after purchasing an additional 351,757 shares during the last quarter. 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.