BRC (NYSE:BRCC) Shares Down 4.4%

BRC Inc. (NYSE:BRCC) shares traded down 4.4% during mid-day trading on Monday . The stock traded as low as $3.73 and last traded at $3.73. 604,565 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 896,083 shares. The stock had previously closed at $3.90.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. DA Davidson reiterated a “buy” rating and issued a $5.50 target price on shares of BRC in a report on Friday, September 6th. Tigress Financial reaffirmed a “buy” rating and issued a $11.00 price objective on shares of BRC in a research note on Wednesday, May 22nd. Roth Capital lowered BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Telsey Advisory Group dropped their target price on BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Roth Mkm cut shares of BRC from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $8.00 to $4.00 in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.63.

BRC Trading Down 6.7 %

The company has a market cap of $720.81 million, a price-to-earnings ratio of -18.89 and a beta of 1.18. The company has a quick ratio of 0.59, a current ratio of 1.07 and a debt-to-equity ratio of 1.01. The business’s fifty day simple moving average is $4.88 and its two-hundred day simple moving average is $4.96.

BRC (NYSE:BRCC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). BRC had a positive return on equity of 17.53% and a negative net margin of 1.88%. The company had revenue of $89.02 million for the quarter, compared to analyst estimates of $101.54 million. During the same quarter last year, the company posted ($0.03) earnings per share. On average, equities analysts predict that BRC Inc. will post -0.02 EPS for the current year.

Hedge Funds Weigh In On BRC

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its position in BRC by 32.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock worth $125,000 after buying an additional 5,064 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of BRC during the second quarter worth about $335,000. Squarepoint Ops LLC raised its holdings in BRC by 55.8% during the second quarter. Squarepoint Ops LLC now owns 41,375 shares of the company’s stock worth $254,000 after purchasing an additional 14,824 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in BRC in the second quarter valued at about $1,084,000. Finally, Marshall Wace LLP boosted its holdings in BRC by 76.4% in the 2nd 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 in 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.