BRC (NYSE:BRCC) Shares Down 2.7%

Shares of BRC Inc. (NYSE:BRCC) dropped 2.7% during mid-day trading on Monday . The company traded as low as $3.99 and last traded at $4.00. Approximately 249,011 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 695,933 shares. The stock had previously closed at $4.11.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $8.00 price target on shares of BRC in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.92.

BRC Price Performance

The firm has a market capitalization of $825.26 million, a P/E ratio of -14.41 and a beta of 0.99. The firm’s 50 day simple moving average is $4.33 and its two-hundred day simple moving average is $3.94. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.28 and a quick ratio of 0.61.

BRC (NYSE:BRCC) last issued its earnings results on Wednesday, March 6th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.20. The company had revenue of $119.65 million for the quarter, compared to the consensus estimate of $124.38 million. BRC had a negative net margin of 4.23% and a positive return on equity of 4.11%. As a group, analysts predict that BRC Inc. will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On BRC

Several hedge funds and other institutional investors have recently modified their holdings of BRCC. Alhambra Investment Management LLC grew its position in shares of BRC by 21.8% in the 4th quarter. Alhambra Investment Management LLC now owns 16,750 shares of the company’s stock worth $61,000 after buying an additional 3,000 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of BRC by 106.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,415 shares of the company’s stock worth $27,000 after purchasing an additional 3,831 shares in the last quarter. Allworth Financial LP grew its stake in shares of BRC by 83.6% in the 4th quarter. Allworth Financial LP now owns 9,776 shares of the company’s stock worth $35,000 after buying an additional 4,450 shares during the last quarter. Raymond James & Associates grew its stake in shares of BRC by 27.3% in the 3rd quarter. Raymond James & Associates now owns 21,921 shares of the company’s stock worth $79,000 after buying an additional 4,697 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in BRC by 23.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 30,000 shares of the company’s stock valued at $109,000 after buying an additional 5,700 shares in the last quarter. Hedge funds and other institutional investors own 16.29% of the company’s stock.

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.