BRC (NYSE:BRCC) Shares Cross Above 50 Day Moving Average – Here’s Why

BRC Inc. (NYSE:BRCC)’s stock price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $9.85 and traded as high as $10.17. BRC shares last traded at $10.09, with a volume of 123,596 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on BRCC. Craig Hallum began coverage on BRC in a report on Monday, August 3rd. They set a “buy” rating and a $17.50 price target for the company. DA Davidson upped their price objective on BRC from $2.50 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BRC in a research report on Monday, November 2nd. Finally, Wall Street Zen downgraded BRC from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, BRC currently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

BRC Stock Performance

The company’s fifty day simple moving average is $9.88 and its 200 day simple moving average is $10.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.59 and a quick ratio of 1.02.

BRC (NYSE:BRCC) last posted its earnings results on Monday, November 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.34). BRC had a negative return on equity of 9.55% and a negative net margin of 1.53%. The company had revenue of $108.04 million for the quarter, compared to analyst estimates of $105.89 million.

Insider Activity at BRC

In other BRC news, Director Stephen Kadenacy sold 10,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 23,495 shares in the company, valued at $192,659. This trade represents a 30.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Evan Hafer sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $11.37, for a total value of $136,440.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 46,300 shares of company stock valued at $474,943 over the last 90 days. Company insiders own 54.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP increased its position in BRC by 83.2% during the 2nd quarter. Engineers Gate Manager LP now owns 24,326 shares of the company’s stock worth $27,000 after buying an additional 11,048 shares during the period. Bank of America Corp DE boosted its position in shares of BRC by 9.2% in the first quarter. Bank of America Corp DE now owns 142,209 shares of the company’s stock valued at $110,000 after acquiring an additional 11,933 shares during the period. Squarepoint Ops LLC boosted its position in shares of BRC by 53.8% in the second quarter. Squarepoint Ops LLC now owns 72,944 shares of the company’s stock valued at $81,000 after acquiring an additional 25,519 shares during the period. Kestra Advisory Services LLC boosted its position 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 valued at $54,000 after acquiring an additional 26,672 shares during the period. Finally, Modera Wealth Management LLC acquired a new position in shares of BRC in the first quarter valued at about $78,000. 16.29% of the stock is owned by institutional investors and hedge funds.

BRC Company Profile

BRC Inc., which operates as Black Rifle Coffee Company, is a coffee and consumer-products company. Its offerings include roasted whole-bean and ground coffee, single-serve coffee, ready-to-drink beverages, and branded apparel and accessories. The company sells through its e-commerce platform and subscription service, as well as through wholesale partners and its retail locations. Its business primarily serves customers in the United States. Founded in 2014 by former U.S. Army Green Beret Evan Hafer, Black Rifle Coffee Company has built its brand around coffee and products marketed to military members, veterans, first responders, and other consumers.