BRC Shares Scheduled to Reverse Split on Monday, August 24th (NYSE:BRCC)

BRC Inc. (NYSE:BRCC)’s stock is set to reverse split before the market opens on Monday, August 24th. The 1-10 reverse split was announced on Monday, August 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, August 21st.

BRC Stock Down 1.1%

Shares of BRC stock opened at $0.81 on Thursday. 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 company has a market cap of $203.49 million, a P/E ratio of -27.10 and a beta of 1.25. The firm’s 50 day moving average price is $1.12 and its 200-day moving average price is $1.06. BRC has a 52-week low of $0.60 and a 52-week high of $1.85.

Analysts Set New Price Targets

Several equities analysts have issued reports on BRCC shares. DA Davidson reaffirmed a “buy” rating and issued a $2.50 price target on shares of BRC in a report on Wednesday, August 5th. Wall Street Zen upgraded BRC from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Craig Hallum started coverage on BRC in a research report on Monday, August 3rd. They issued a “buy” rating and a $1.75 price objective for the company. Finally, Weiss Ratings downgraded BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, BRC currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.25.

Insider Activity at BRC

In related news, Director Stephen M. Kadenacy sold 105,000 shares of BRC stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $0.82, for a total value of $86,100.00. Following the completion of the sale, the director directly owned 234,953 shares in the company, valued at $192,661.46. This trade represents a 30.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathryn P. Dickson bought 50,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were bought at an average cost of $0.85 per share, for a total transaction of $42,500.00. Following the transaction, the director owned 522,690 shares in the company, valued at $444,286.50. The trade was a 10.58% increase in their position. The SEC filing for this purchase provides additional information. 54.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BRC

Several hedge funds have recently made changes to their positions in the company. Kestra Private Wealth Services LLC purchased a new position in BRC in the 4th quarter worth $26,000. Engineers Gate Manager LP purchased a new stake in BRC during the 2nd quarter valued at about $27,000. Invesco Ltd. increased its holdings in shares of BRC by 96.1% in the fourth quarter. Invesco Ltd. now owns 30,140 shares of the company’s stock valued at $33,000 after purchasing an additional 14,769 shares during the period. Virtu Financial LLC increased its holdings in shares of BRC by 82.2% in the third quarter. Virtu Financial LLC now owns 21,037 shares of the company’s stock valued at $33,000 after purchasing an additional 9,492 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of BRC by 312.6% in the third quarter. BNP Paribas Financial Markets now owns 27,016 shares of the company’s stock worth $42,000 after purchasing an additional 20,469 shares during the last quarter. 16.29% of the stock is 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.