BRC (NYSE:BRCC) Trading Up 11.1% After Earnings Beat

BRC Inc. (NYSE:BRCC) shares traded up 11.1% during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $3.52 and last traded at $3.51. 251,396 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 889,688 shares. The stock had previously closed at $3.16.

The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. The firm had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.06 million. During the same period last year, the firm posted ($0.05) EPS.

Analysts Set New Price Targets

Several research firms recently commented on BRCC. Roth Capital downgraded shares of BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. DA Davidson reaffirmed a “buy” rating and set a $5.50 price target on shares of BRC in a research note on Wednesday, September 18th. Roth Mkm downgraded BRC from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $8.00 to $4.00 in a report on Friday, August 9th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $6.00 target price on shares of BRC in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, BRC presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.63.

Insider Buying and Selling at BRC

In other BRC news, Director Evan Hafer sold 3,000,000 shares of BRC stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $3.20, for a total transaction of $9,600,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Evan Hafer sold 3,000,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total value of $9,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas E. Davin sold 10,884 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $3.81, for a total value of $41,468.04. Following the sale, the director now directly owns 15,851 shares in the company, valued at approximately $60,392.31. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,010,884 shares of company stock worth $12,811,468. 73.80% of the stock is owned by company insiders.

Institutional Trading of BRC

Several institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in BRC in the 2nd quarter valued at about $28,000. Comerica Bank raised its position in BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after purchasing an additional 4,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in BRC during the 1st quarter worth $45,000. Smith Thornton Advisors LLC bought a new position in BRC in the 3rd quarter valued at $45,000. Finally, United Asset Strategies Inc. acquired a new stake in shares of BRC in the 3rd quarter valued at $50,000. 16.29% of the stock is currently owned by institutional investors and hedge funds.

BRC Stock Up 5.4 %

The firm has a 50 day moving average price of $3.52 and a 200-day moving average price of $4.67. The firm has a market cap of $707.69 million, a price-to-earnings ratio of -29.08 and a beta of 1.16. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 0.59.

About BRC

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.