BRC (NYSE:BRCC) Sees Strong Trading Volume – Here’s Why

BRC Inc. (NYSE:BRCC) shares saw an uptick in trading volume on Wednesday . 696,539 shares traded hands during 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.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BRCC shares. Telsey Advisory Group reissued an “outperform” rating and issued a $6.00 price objective on shares of BRC in a research report on Thursday, October 31st. Roth Mkm reaffirmed a “neutral” rating and issued a $3.50 price objective (down from $4.00) on shares of BRC in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $6.50.

BRC Stock Down 2.2 %

The firm’s 50-day moving average price is $3.03 and its 200 day moving average price is $3.80. 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 has a market capitalization of $651.20 million, a price-to-earnings ratio of -38.26 and a beta of 1.12.

BRC (NYSE:BRCC) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.06 million. BRC had a negative net margin of 1.22% and a positive return on equity of 23.35%. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, sell-side analysts forecast that BRC Inc. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On BRC

Institutional investors have recently made changes to their positions in the stock. Engaged Capital LLC lifted its stake in BRC by 5.3% during the 3rd quarter. Engaged Capital LLC now owns 13,535,560 shares of the company’s stock valued at $46,292,000 after acquiring an additional 684,542 shares in the last quarter. QVIDTVM Management LLC increased its position in BRC by 24.2% in the third quarter. QVIDTVM Management LLC now owns 3,219,929 shares of the company’s stock worth $11,012,000 after buying an additional 627,653 shares during the last quarter. Blair William & Co. IL raised its stake in BRC by 370.2% in the 2nd quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock valued at $4,921,000 after acquiring an additional 632,000 shares during the period. Riverwater Partners LLC bought a new position in BRC during the third quarter worth about $1,091,000. Finally, Verition Fund Management LLC boosted its holdings in BRC by 4,294.3% in the 3rd quarter. Verition Fund Management LLC now owns 497,211 shares of the company’s stock worth $1,700,000 after buying an additional 485,896 shares during the period. Institutional investors and hedge funds 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.