DA Davidson Issues Pessimistic Forecast for BRC (NYSE:BRCC) Stock Price

BRC (NYSE:BRCC) had its price objective cut by DA Davidson from $5.00 to $3.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

BRCC has been the topic of a number of other reports. Roth Mkm restated a “neutral” rating and issued a $2.50 price target (down from $3.50) on shares of BRC in a research note on Wednesday. Telsey Advisory Group reissued an “outperform” rating and issued a $6.00 target price on shares of BRC in a research report on Tuesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, BRC has an average rating of “Moderate Buy” and a consensus price target of $5.63.

BRC Stock Performance

Shares of BRCC stock opened at $2.16 on Wednesday. BRC has a 52 week low of $2.01 and a 52 week high of $7.14. The company has a quick ratio of 0.58, a current ratio of 1.14 and a debt-to-equity ratio of 0.92. The company has a 50 day moving average price of $2.80 and a 200-day moving average price of $3.17. The firm has a market capitalization of $458.46 million, a PE ratio of -26.94 and a beta of 1.09.

Hedge Funds Weigh In On BRC

A number of institutional investors have recently bought and sold shares of BRCC. Jones Financial Companies Lllp raised its stake in shares of BRC by 106.0% in the fourth quarter. Jones Financial Companies Lllp now owns 9,011 shares of the company’s stock worth $29,000 after buying an additional 4,637 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BRC in the 4th quarter worth approximately $30,000. Smith Thornton Advisors LLC bought a new stake in BRC during the 3rd quarter worth approximately $45,000. ProShare Advisors LLC purchased a new position in BRC during the fourth quarter valued at approximately $47,000. Finally, Ameriprise Financial Inc. purchased a new position in BRC during the fourth quarter valued at approximately $47,000. 16.29% of the stock is owned by institutional investors.

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.