BRC Inc. (NYSE:BRCC – Get Free Report) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 7,510,000 shares, a decrease of 8.7% from the October 15th total of 8,230,000 shares. Approximately 12.9% of the shares of the company are sold short. Based on an average daily trading volume, of 549,400 shares, the short-interest ratio is currently 13.7 days.
BRC Trading Up 9.1 %
Shares of BRCC traded up $0.34 during trading hours on Friday, hitting $4.09. The stock had a trading volume of 1,212,309 shares, compared to its average volume of 483,377. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.63 and a current ratio of 1.86. The firm has a market cap of $867.24 million, a P/E ratio of -14.10 and a beta of 0.58. The company’s fifty day simple moving average is $3.29 and its 200 day simple moving average is $4.37. BRC has a 12-month low of $2.51 and a 12-month high of $8.27.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Roth Mkm lowered their target price on BRC from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, August 11th. Telsey Advisory Group reiterated an “outperform” rating and set a $8.00 target price on shares of BRC in a report on Tuesday, September 12th. William Blair reiterated an “outperform” rating on shares of BRC in a report on Friday, July 21st. Deutsche Bank Aktiengesellschaft lowered their target price on BRC from $7.00 to $5.00 and set a “hold” rating on the stock in a report on Friday, August 11th. Finally, MKM Partners lowered their target price on BRC from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, BRC currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.81.
Insider Transactions at BRC
In other BRC news, Director Kathryn P. Dickson bought 30,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was acquired at an average cost of $3.27 per share, with a total value of $98,100.00. Following the purchase, the director now owns 142,710 shares in the company, valued at approximately $466,661.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 71.20% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in BRCC. Raymond James & Associates purchased a new position in BRC in the second quarter valued at about $89,000. Lake Street Advisors Group LLC raised its position in BRC by 40.0% in the second quarter. Lake Street Advisors Group LLC now owns 14,000 shares of the company’s stock valued at $72,000 after purchasing an additional 4,000 shares during the period. Anchor Capital Advisors LLC raised its position in BRC by 100.5% in the second quarter. Anchor Capital Advisors LLC now owns 223,355 shares of the company’s stock valued at $1,153,000 after purchasing an additional 111,940 shares during the period. Virtu Financial LLC raised its position in BRC by 22.3% in the second quarter. Virtu Financial LLC now owns 17,282 shares of the company’s stock valued at $89,000 after purchasing an additional 3,156 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in BRC by 12.5% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 24,300 shares of the company’s stock valued at $125,000 after purchasing an additional 2,700 shares during the period. 15.21% of the stock is owned by hedge funds and other institutional investors.
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; podcasts; and digital and print journals, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.
- Five stocks we like better than BRC
- ESG Stocks, What Investors Should Know
- S&P 500’s Whirlwind: Big gains, warning whispers & tactical moves
- 5 Top Rated Dividend Stocks to Consider
- MarketBeat Week in Review – 11/13 – 11/17
- 3 Warren Buffett Stocks to Buy Now
- 3 large caps with red hot RSIs with upside
Receive News & Ratings for BRC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BRC and related companies with MarketBeat.com's FREE daily email newsletter.