BRC Inc. (NYSE:BRCC) Sees Significant Increase in Short Interest

BRC Inc. (NYSE:BRCC) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 6,995,344 shares, a growth of 20.6% from the January 15th total of 5,800,649 shares. Approximately 10.7% of the shares of the company are short sold. Based on an average daily volume of 1,163,841 shares, the days-to-cover ratio is currently 6.0 days. Based on an average daily volume of 1,163,841 shares, the days-to-cover ratio is currently 6.0 days. Approximately 10.7% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BRCC shares. DA Davidson set a $2.50 price target on shares of BRC in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of BRC in a research note on Wednesday, January 21st. Finally, Telsey Advisory Group restated an “outperform” rating and set a $2.50 target price on shares of BRC in a research report on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BRC has an average rating of “Hold” and a consensus target price of $2.33.

BRC Price Performance

NYSE:BRCC traded down $0.03 during mid-day trading on Tuesday, hitting $0.70. 851,704 shares of the stock traded hands, compared to its average volume of 1,104,232. The business’s 50-day moving average price is $1.01 and its 200 day moving average price is $1.28. The company has a market cap of $172.73 million, a PE ratio of -4.96 and a beta of 0.91. BRC has a 12-month low of $0.68 and a 12-month high of $2.78. The company has a quick ratio of 0.68, a current ratio of 1.34 and a debt-to-equity ratio of 0.44.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BRCC. Kestra Private Wealth Services LLC purchased a new stake in shares of BRC in the fourth quarter worth $26,000. Engineers Gate Manager LP bought a new position in BRC in the 2nd quarter worth about $27,000. R Squared Ltd bought a new position in BRC in the 2nd quarter worth about $28,000. CWM LLC raised its holdings in shares of BRC by 63.3% in the 3rd quarter. CWM LLC now owns 18,616 shares of the company’s stock valued at $29,000 after acquiring an additional 7,215 shares in the last quarter. Finally, Virtu Financial LLC boosted its position in shares of BRC by 82.2% during the 3rd quarter. Virtu Financial LLC now owns 21,037 shares of the company’s stock valued at $33,000 after acquiring an additional 9,492 shares during the last quarter. 16.29% of the stock is currently 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.