Black Rock Coffee Bar (NASDAQ:BRCB) Shares Up 5.4% – What’s Next?

Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) shares traded up 5.4% during mid-day trading on Friday. The company traded as high as $10.10 and last traded at $10.16. Approximately 55,448 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 505,284 shares. The stock had previously closed at $9.64.

Analyst Ratings Changes

BRCB has been the subject of several research analyst reports. Stifel Nicolaus began coverage on Black Rock Coffee Bar in a research note on Monday. They set a “hold” rating and a $12.00 target price for the company. Robert W. Baird lifted their price target on shares of Black Rock Coffee Bar from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday. DA Davidson lifted their price target on shares of Black Rock Coffee Bar from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings raised shares of Black Rock Coffee Bar from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, October 2nd. Finally, Zacks Research downgraded shares of Black Rock Coffee Bar from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $11.00.

Black Rock Coffee Bar Stock Performance

The company has a 50-day moving average of $8.52 and a 200-day moving average of $10.28. The firm has a market capitalization of $513.47 million, a price-to-earnings ratio of 60.69 and a beta of -0.92. The company has a current ratio of 0.71, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27.

Black Rock Coffee Bar (NASDAQ:BRCB) last released its quarterly earnings data on Tuesday, November 10th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). Black Rock Coffee Bar had a return on equity of 3.53% and a net margin of 1.58%. The business had revenue of $66.75 million during the quarter. On average, equities research analysts forecast that Black Rock Coffee Bar, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in shares of Black Rock Coffee Bar by 106.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,219 shares of the company’s stock valued at $106,000 after buying an additional 4,243 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in Black Rock Coffee Bar in the second quarter worth about $166,000. Alkeme Wealth LLC acquired a new position in Black Rock Coffee Bar in the third quarter valued at approximately $214,000. Engineers Gate Manager LP boosted its stake in Black Rock Coffee Bar by 172.0% in the second quarter. Engineers Gate Manager LP now owns 59,909 shares of the company’s stock valued at $497,000 after acquiring an additional 37,880 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Black Rock Coffee Bar by 1,199.8% in the third quarter. Russell Investments Group Ltd. now owns 84,329 shares of the company’s stock valued at $601,000 after acquiring an additional 77,841 shares during the period.

About Black Rock Coffee Bar

Black Rock Coffee Bar is a specialty coffee company that operates cafés focused on handcrafted beverages and customer service. The company was founded in 2008 in Beaverton, Oregon. Its menu includes coffee and espresso drinks, teas, blended beverages, energy drinks and food items. Many locations offer drive-through service, alongside in-store ordering. Black Rock Coffee Bar serves customers across several western and southwestern U.S. states, including Oregon, Arizona, Washington, Colorado and Texas.