BRC (NYSE:BRCC) Stock Price Down 4.1% – Here’s Why

BRC Inc. (NYSE:BRCC) was down 4.1% during mid-day trading on Tuesday . The stock traded as low as $2.81 and last traded at $2.83. Approximately 202,787 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 893,063 shares. The stock had previously closed at $2.95.

Analyst Ratings Changes

Several research firms recently issued reports on BRCC. Roth Mkm reissued a “neutral” rating and issued a $3.50 target price (down from $4.00) on shares of BRC in a research report on Wednesday, November 6th. Telsey Advisory Group reissued an “outperform” rating and set a $6.00 target price on shares of BRC in a research note on Thursday, October 31st. Roth Capital cut BRC from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, DA Davidson reissued a “buy” rating and issued a $5.50 price objective on shares of BRC in a report 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.50.

BRC Stock 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 company’s 50-day moving average price is $3.30 and its 200 day moving average price is $4.60.

BRC (NYSE:BRCC) last posted its earnings results on Monday, November 4th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. BRC had a negative net margin of 1.22% and a positive return on equity of 23.35%. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.06 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Analysts forecast that BRC Inc. will post -0.02 earnings per share for the current year.

Insider Buying and Selling

In other BRC news, Director Thomas E. Davin sold 10,884 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $3.81, for a total transaction of $41,468.04. Following the sale, the director now directly owns 15,851 shares in the company, valued at $60,392.31. This represents a 40.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Evan Hafer sold 3,000,000 shares of BRC stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total value of $9,600,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,010,884 shares of company stock valued at $12,811,468. Company insiders own 73.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRCC. Engaged Capital LLC grew its stake 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 purchasing an additional 684,542 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of BRC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 4,162,960 shares of the company’s stock worth $17,817,000 after acquiring an additional 14,361 shares in the last quarter. QVIDTVM Management LLC boosted its position in shares of 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of BRC by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,073,638 shares of the company’s stock valued at $3,673,000 after acquiring an additional 10,100 shares during the last quarter. Finally, State Street Corp raised its position in shares of BRC by 3.2% during the 3rd quarter. State Street Corp now owns 955,717 shares of the company’s stock worth $3,269,000 after acquiring an additional 29,596 shares in the last quarter. Institutional investors and hedge funds 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.