BRC (NYSE:BRCC) Shares Down 5% – Here’s What Happened

BRC Inc. (NYSE:BRCC) shares were down 5% on Wednesday . The company traded as low as $2.60 and last traded at $2.59. Approximately 242,991 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 738,212 shares. The stock had previously closed at $2.72.

Analyst Ratings Changes

Several analysts have recently commented on BRCC shares. Roth Mkm restated a “neutral” rating and set a $3.50 price objective (down from $4.00) on shares of BRC in a research report on Wednesday, November 6th. Telsey Advisory Group reissued an “outperform” rating and set a $6.00 price target on shares of BRC in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $6.50.

BRC Stock Down 1.0 %

The company has a market capitalization of $539.30 million, a PE ratio of -31.69 and a beta of 1.09. 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’s 50 day moving average is $2.98 and its two-hundred day moving average is $3.48.

BRC (NYSE:BRCC) last posted its earnings results on Monday, November 4th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. BRC had a positive return on equity of 23.35% and a negative net margin of 1.22%. The company had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.06 million. During the same period in the previous year, the business earned ($0.05) earnings per share. On average, analysts anticipate that BRC Inc. will post -0.02 earnings per share for the current year.

Institutional Trading of BRC

Large investors have recently made changes to their positions in the business. Engaged Capital LLC raised its stake in shares of BRC by 5.3% in the third quarter. Engaged Capital LLC now owns 13,535,560 shares of the company’s stock valued at $46,292,000 after acquiring an additional 684,542 shares during the period. QVIDTVM Management LLC raised its position in BRC by 24.2% in the 3rd quarter. QVIDTVM Management LLC now owns 3,219,929 shares of the company’s stock worth $11,012,000 after purchasing an additional 627,653 shares during the period. Geode Capital Management LLC lifted its stake in BRC by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,073,638 shares of the company’s stock worth $3,673,000 after purchasing an additional 10,100 shares during the last quarter. State Street Corp boosted its position in shares of BRC by 3.2% during the third quarter. State Street Corp now owns 955,717 shares of the company’s stock valued at $3,269,000 after buying an additional 29,596 shares during the period. Finally, Verition Fund Management LLC grew its stake in shares of BRC by 4,294.3% during the third quarter. Verition Fund Management LLC now owns 497,211 shares of the company’s stock valued at $1,700,000 after buying an additional 485,896 shares during the last quarter. 16.29% of the stock is currently owned by institutional investors.

BRC Company Profile

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.