BRC (NYSE:BRCC) Research Coverage Started at Craig Hallum

Craig Hallum started coverage on shares of BRC (NYSE:BRCC) in a research note released on Monday morning, Marketbeat reports. The brokerage issued a buy rating and a $1.75 price objective on the stock.

BRCC has been the subject of a number of other research reports. Weiss Ratings raised BRC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Wall Street Zen raised BRC from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, DA Davidson restated a “buy” rating and issued a $2.50 price objective on shares of BRC in a research note on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2.25.

BRC Trading Down 2.4%

NYSE:BRCC opened at $1.02 on Monday. The company has a market capitalization of $255.74 million, a P/E ratio of -34.17 and a beta of 1.25. The company has a current ratio of 1.42, a quick ratio of 0.74 and a debt-to-equity ratio of 0.40. BRC has a 12 month low of $0.60 and a 12 month high of $1.85. The firm has a fifty day simple moving average of $1.23 and a 200-day simple moving average of $1.06.

BRC (NYSE:BRCC) last released its earnings results on Monday, May 4th. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.01. The firm had revenue of $109.23 million for the quarter, compared to the consensus estimate of $96.95 million. BRC had a negative return on equity of 5.33% and a negative net margin of 0.89%.

Insider Buying and Selling at BRC

In related news, insider Evan Hafer sold 2,000,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1.49, for a total transaction of $2,980,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 54.87% of the stock is owned by insiders.

Institutional Investors Weigh In On BRC

Hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP purchased a new position in shares of BRC during the 2nd quarter valued at about $27,000. Virtu Financial LLC lifted its holdings in shares of BRC by 82.2% in the 3rd quarter. Virtu Financial LLC now owns 21,037 shares of the company’s stock valued at $33,000 after buying an additional 9,492 shares during the period. Kestra Private Wealth Services LLC purchased a new stake in shares of BRC in the fourth quarter worth about $26,000. BNP Paribas Financial Markets boosted its stake in shares of BRC by 312.6% in the third quarter. BNP Paribas Financial Markets now owns 27,016 shares of the company’s stock worth $42,000 after buying an additional 20,469 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in BRC by 96.1% during the fourth quarter. Invesco Ltd. now owns 30,140 shares of the company’s stock worth $33,000 after acquiring an additional 14,769 shares during the period. 16.29% of the stock is owned by hedge funds and other institutional investors.

BRC Company Profile

Black Rifle Coffee Company, Inc is a veteran-owned specialty coffee roaster and retailer that offers a range of coffee products, merchandise and subscription services. The company sources, roasts and distributes its own blends and single-origin coffees, as well as ready-to-drink beverages and branded apparel. Its product lineup includes whole-bean and ground coffees, cold brew concentrates, K-cup pods and limited-edition small-batch offerings designed to appeal to active lifestyle and patriotic consumers.

Founded in 2014 by U.S.