BRC (NYSE:BRCC) Stock Price Down 5% – Here’s Why

BRC Inc. (NYSE:BRCC)’s share price traded down 5% during trading on Wednesday . The stock traded as low as $2.60 and last traded at $2.59. 242,991 shares traded hands during trading, a decline of 67% from the average session volume of 738,212 shares. The stock had previously closed at $2.72.

Analysts Set New Price Targets

Several research firms have weighed in on BRCC. Telsey Advisory Group reiterated an “outperform” rating and set a $6.00 target price on shares of BRC in a report on Thursday, October 31st. Roth Mkm reiterated a “neutral” rating and set a $3.50 price objective (down previously from $4.00) on shares of BRC in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, BRC has a consensus rating of “Moderate Buy” and an average target price of $6.50.

BRC Stock Performance

The stock’s 50 day moving average is $3.00 and its two-hundred day moving average is $3.50. The stock has a market capitalization of $549.93 million, a price-to-earnings ratio of -32.31 and a beta of 1.09. The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.92.

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

Institutional Trading of BRC

A number of hedge funds and other institutional investors have recently made changes to their positions in BRCC. Smith Thornton Advisors LLC bought a new position in BRC in the third quarter valued at $45,000. United Asset Strategies Inc. bought a new stake in BRC in the third quarter valued at approximately $50,000. Lake Street Advisors Group LLC acquired a new stake in shares of BRC in the fourth quarter valued at approximately $48,000. Intech Investment Management LLC bought a new position in shares of BRC during the 3rd quarter worth approximately $56,000. Finally, SG Americas Securities LLC acquired a new position in shares of BRC during the 4th quarter worth approximately $58,000. 16.29% of the stock is currently owned by institutional investors and hedge funds.

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.