BRC (NYSE:BRCC) Shares Gap Up – Here’s Why

BRC Inc. (NYSE:BRCC)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $8.7990, but opened at $9.20. BRC shares last traded at $9.13, with a volume of 45,570 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BRCC shares. DA Davidson reaffirmed a “buy” rating and issued a $25.00 price target on shares of BRC in a report on Wednesday, August 5th. Weiss Ratings lowered BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 4th. Craig Hallum assumed coverage on BRC in a report on Monday, August 3rd. They issued a “buy” rating and a $17.50 price target on the stock. Finally, Wall Street Zen raised BRC from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.50.

BRC Price Performance

The company has a market capitalization of $211.63 million, a PE ratio of -28.18 and a beta of 1.25. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average is $10.84 and its 200-day moving average is $10.58.

Insider Activity

In other news, Director Stephen M. Kadenacy sold 10,500 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $8.20, for a total transaction of $86,100.00. Following the transaction, the director directly owned 23,495 shares in the company, valued at approximately $192,659. This represents a 30.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Evan Hafer sold 200,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $14.90, for a total value of $2,980,000.00. Additional details regarding this sale are available in the official SEC disclosure. 54.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BRC

A number of institutional investors have recently made changes to their positions in the business. Zazove Associates LLC grew its holdings in shares of BRC by 270.7% during the 1st quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock valued at $1,552,000 after purchasing an additional 1,460,546 shares during the last quarter. Bank of America Corp DE boosted its position in BRC by 9.2% during the first quarter. Bank of America Corp DE now owns 142,209 shares of the company’s stock valued at $110,000 after buying an additional 11,933 shares during the period. Renaissance Technologies LLC bought a new position in shares of BRC during the first quarter valued at about $232,000. Modera Wealth Management LLC purchased a new position in shares of BRC in the first quarter worth about $78,000. Finally, Kestra Advisory Services LLC increased its holdings in shares of BRC by 63.0% in the first quarter. Kestra Advisory Services LLC now owns 69,001 shares of the company’s stock worth $54,000 after buying an additional 26,672 shares during the period. Hedge funds and other institutional investors own 16.29% of the company’s stock.

About BRC

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.