BRC (NYSE:BRCC) Share Price Crosses Below 200-Day Moving Average on Disappointing Earnings

BRC Inc. (NYSE:BRCC) shares crossed below its 200-day moving average during trading on Tuesday following a dissappointing earnings announcement. The stock has a 200-day moving average of $10.23 and traded as low as $8.03. BRC shares last traded at $9.6370, with a volume of 339,187 shares.

The company reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.34). The company had revenue of $108.04 million for the quarter, compared to analysts’ expectations of $105.89 million. BRC had a negative return on equity of 9.44% and a negative net margin of 1.53%.

Analyst Ratings Changes

A number of analysts have commented on the company. DA Davidson boosted their target price on BRC from $2.50 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Craig Hallum started coverage on BRC in a research report on Monday, August 3rd. They issued a “buy” rating and a $17.50 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BRC in a research note on Monday. Three research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Insider Activity at BRC

In other BRC news, Director Stephen Kadenacy sold 10,500 shares of BRC stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $8.20, for a total value of $86,100.00. Following the completion of the sale, the director directly owned 23,495 shares of the company’s stock, valued at approximately $192,659. The trade was a 30.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Evan Hafer sold 15,304 shares of BRC stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $10.62, for a total value of $162,528.48. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 46,300 shares of company stock worth $474,943 in the last three months. Insiders own 54.87% of the company’s stock.

Hedge Funds Weigh In On BRC

A number of large investors have recently modified their holdings of the company. Zazove Associates LLC lifted its stake in shares of BRC by 270.7% in the 1st quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock valued at $1,552,000 after purchasing an additional 1,460,546 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in BRC during the 1st quarter worth approximately $232,000. Bank of America Corp DE increased its position in BRC by 9.2% during the 1st quarter. Bank of America Corp DE now owns 142,209 shares of the company’s stock worth $110,000 after purchasing an additional 11,933 shares in the last quarter. Modera Wealth Management LLC purchased a new position in BRC in the first quarter valued at approximately $78,000. Finally, Squarepoint Ops LLC raised its holdings in 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 buying an additional 25,519 shares during the period. 16.29% of the stock is currently owned by hedge funds and other institutional investors.

BRC Price Performance

The stock has a market cap of $241.21 million, a PE ratio of -16.62 and a beta of 1.21. 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’s fifty day moving average is $9.67 and its 200 day moving average is $10.23.

BRC Company Profile

Black Rifle Coffee Company (NYSE: BRCC) is a veteran-founded coffee and lifestyle company focused on producing, marketing and selling premium coffee products. Its offerings include whole-bean and ground coffee, single-serve options, ready-to-drink beverages, tea, brewing equipment, apparel and other branded merchandise.

The company distributes its products through direct-to-consumer channels, including its online store and coffee subscription programs, as well as wholesale and retail partners.