BRC (NYSE:BRCC) Trading Down 4.4% – Here’s Why

BRC Inc. (NYSE:BRCC)’s share price traded down 4.4% during trading on Thursday . The company traded as low as $1.19 and last traded at $1.2050. 1,102,009 shares traded hands during trading, an increase of 49% from the average session volume of 740,025 shares. The stock had previously closed at $1.26.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings upgraded BRC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Wall Street Zen upgraded BRC from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, DA Davidson reissued a “buy” rating and issued a $2.50 price objective on shares of BRC in a research note on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, BRC presently has a consensus rating of “Hold” and an average target price of $2.50.

BRC Trading Down 4.4%

The stock has a market capitalization of $300.65 million, a PE ratio of -12.05 and a beta of 1.25. The company’s 50 day moving average price is $1.35 and its two-hundred day moving average price is $1.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.74.

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

Insider Buying and Selling at BRC

In other news, insider Evan Hafer sold 2,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.49, for a total transaction of $2,980,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 54.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BRC

A number of institutional investors have recently added to or reduced their stakes in BRCC. AQR Capital Management LLC lifted its position in BRC by 342.1% during the first quarter. AQR Capital Management LLC now owns 56,861 shares of the company’s stock worth $119,000 after buying an additional 43,998 shares in the last quarter. Millennium Management LLC grew its holdings in BRC by 4.1% in the 1st quarter. Millennium Management LLC now owns 1,871,110 shares of the company’s stock valued at $3,911,000 after buying an additional 72,962 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in BRC by 204.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 651,251 shares of the company’s stock valued at $1,361,000 after buying an additional 437,359 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of BRC by 10.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,270,764 shares of the company’s stock worth $1,665,000 after acquiring an additional 115,289 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of BRC by 158.5% in the 2nd quarter. Rhumbline Advisers now owns 178,510 shares of the company’s stock worth $234,000 after acquiring an additional 109,444 shares during 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.