BRC (NYSE:BRCC) Sees Large Volume Increase – Here’s Why

Shares of BRC Inc. (NYSE:BRCC) saw unusually-strong trading volume on Tuesday . Approximately 81,978 shares traded hands during mid-day trading, a decline of 26% from the previous session’s volume of 110,312 shares.The stock last traded at $8.31 and had previously closed at $9.33.

Wall Street Analysts Forecast Growth

BRCC has been the topic of a number of recent analyst reports. DA Davidson restated a “buy” rating and issued a $25.00 price target on shares of BRC in a research report on Wednesday, August 5th. Weiss Ratings downgraded BRC from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 4th. Craig Hallum started coverage on BRC in a research report on Monday, August 3rd. They issued a “buy” rating and a $17.50 price objective for the company. Finally, Wall Street Zen upgraded BRC from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, BRC presently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

BRC Stock Performance

The firm has a fifty day simple moving average of $10.75 and a 200-day simple moving average of $10.59. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.40. The stock has a market cap of $215.26 million, a price-to-earnings ratio of -28.67 and a beta of 1.25.

Insider Buying and Selling at BRC

In other BRC news, insider Evan Hafer sold 200,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $14.90, for a total transaction of $2,980,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen M. Kadenacy sold 10,500 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $8.20, for a total transaction of $86,100.00. Following the completion of the transaction, the director directly owned 23,495 shares in the company, valued at $192,659. This trade represents a 30.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 54.87% of the company’s stock.

Hedge Funds Weigh In On BRC

Several large investors have recently bought and sold shares of BRCC. Alyeska Investment Group L.P. bought a new stake in BRC in the third quarter valued at about $16,206,000. Nantahala Capital Management LLC bought a new position in BRC during the third quarter worth about $4,104,000. Zazove Associates LLC boosted its holdings in BRC by 270.7% during the first quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock worth $1,552,000 after buying an additional 1,460,546 shares during the last quarter. Vanguard Group Inc. grew its position in shares of BRC by 50.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,152,681 shares of the company’s stock worth $6,478,000 after buying an additional 1,399,833 shares during the period. Finally, Millennium Management LLC grew its position in shares of BRC by 71.5% during the 3rd quarter. Millennium Management LLC now owns 1,900,439 shares of the company’s stock worth $2,965,000 after buying an additional 792,458 shares during the period. 16.29% of the stock is currently owned by institutional investors and hedge funds.

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.