BRC (NYSE:BRCC) Trading Up 11.1% Following Better-Than-Expected Earnings

BRC Inc. (NYSE:BRCC)’s share price shot up 11.1% on Tuesday following a stronger than expected earnings report. The stock traded as high as $3.52 and last traded at $3.51. 251,396 shares changed hands during trading, a decline of 72% from the average session volume of 889,688 shares. The stock had previously closed at $3.16.

The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $98.20 million during the quarter, compared to analyst estimates of $95.06 million. BRC had a positive return on equity of 23.81% and a negative net margin of 1.22%. During the same quarter in the previous year, the firm earned ($0.05) EPS.

Analyst Upgrades and Downgrades

A number of research firms have commented on BRCC. DA Davidson reaffirmed a “buy” rating and issued a $5.50 target price on shares of BRC in a research report on Wednesday, September 18th. Roth Capital downgraded BRC from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $6.00 target price on shares of BRC in a research report on Thursday, October 31st. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $3.50 price target (down previously from $4.00) on shares of BRC in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.50.

Insider Activity at BRC

In related news, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $3.81, for a total transaction of $41,468.04. Following the completion of the transaction, the director now directly owns 15,851 shares in the company, valued at approximately $60,392.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Thomas E. Davin sold 10,884 shares of BRC stock in a transaction on Monday, September 9th. The shares were sold at an average price of $3.81, for a total transaction of $41,468.04. Following the transaction, the director now owns 15,851 shares in the company, valued at approximately $60,392.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Evan Hafer sold 1,000,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.17, for a total transaction of $3,170,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,010,884 shares of company stock worth $12,811,468. Corporate insiders own 73.80% of the company’s stock.

Institutional Trading of BRC

Institutional investors have recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in BRC in the 2nd quarter valued at $28,000. Comerica Bank lifted its position in shares of BRC by 316.4% in the first quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after buying an additional 4,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in BRC during the first quarter valued at approximately $45,000. Smith Thornton Advisors LLC purchased a new position in BRC during the 3rd quarter valued at approximately $45,000. Finally, United Asset Strategies Inc. bought a new stake in BRC in the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 16.29% of the company’s stock.

BRC Stock Down 2.7 %

The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 1.07. The firm has a market capitalization of $680.06 million, a PE ratio of -40.00 and a beta of 1.16. The company has a fifty day moving average price of $3.48 and a 200-day moving average price of $4.65.

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.