Evan Hafer Sells 2,000,000 Shares of BRC (NYSE:BRCC) Stock

BRC Inc. (NYSE:BRCC) insider Evan Hafer sold 2,000,000 shares of BRC stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1.49, for a total transaction of $2,980,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

BRC Stock Performance

NYSE:BRCC opened at $1.30 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 1.36. BRC Inc. has a 52-week low of $0.60 and a 52-week high of $2.10. The firm has a market cap of $323.10 million, a price-to-earnings ratio of -12.95 and a beta of 1.20. The business’s fifty day moving average is $1.19 and its 200 day moving average is $1.06.

BRC (NYSE:BRCC) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.01. BRC had a negative net margin of 2.17% and a negative return on equity of 14.55%. The firm had revenue of $109.23 million during the quarter, compared to the consensus estimate of $96.95 million.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BRCC. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BRC in a report on Monday, April 20th. Wall Street Zen raised shares of BRC from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. DA Davidson reaffirmed a “buy” rating and set a $2.50 price objective on shares of BRC in a report on Tuesday, May 5th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $2.50 price objective on shares of BRC in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.50.

Hedge Funds Weigh In On BRC

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of BRC by 9.2% in the first quarter. Bank of America Corp DE now owns 142,209 shares of the company’s stock valued at $110,000 after acquiring an additional 11,933 shares during the period. Renaissance Technologies LLC purchased a new position in shares of BRC in the first quarter valued at about $232,000. Modera Wealth Management LLC purchased a new position in shares of BRC in the first quarter valued at about $78,000. Kestra Advisory Services LLC boosted its stake in shares of BRC by 63.0% during the 1st quarter. Kestra Advisory Services LLC now owns 69,001 shares of the company’s stock valued at $54,000 after purchasing an additional 26,672 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in shares of BRC by 67.1% during the 1st quarter. Kestra Private Wealth Services LLC now owns 38,600 shares of the company’s stock valued at $30,000 after purchasing an additional 15,500 shares in the last quarter. Hedge funds and other institutional investors own 16.29% of the company’s stock.

About BRC

Black Rifle Coffee Company, Inc is a veteran-owned specialty coffee roaster and retailer that offers a range of coffee products, merchandise and subscription services. The company sources, roasts and distributes its own blends and single-origin coffees, as well as ready-to-drink beverages and branded apparel. Its product lineup includes whole-bean and ground coffees, cold brew concentrates, K-cup pods and limited-edition small-batch offerings designed to appeal to active lifestyle and patriotic consumers.

Founded in 2014 by U.S.