BRC (NYSE:BRCC) Trading Up 6.1% – Time to Buy?

BRC Inc. (NYSE:BRCC)’s stock price shot up 6.1% during trading on Wednesday . The stock traded as high as $3.15 and last traded at $3.15. 538,402 shares changed hands during trading, a decline of 39% from the average session volume of 880,701 shares. The stock had previously closed at $2.97.

Wall Street Analyst Weigh In

BRCC has been the subject of a number of analyst reports. Roth Mkm reaffirmed a “neutral” rating and set a $3.50 target price (down previously from $4.00) on shares of BRC in a research note on Wednesday, November 6th. Telsey Advisory Group restated an “outperform” rating and issued a $6.00 price target on shares of BRC in a research note on Thursday, October 31st. Finally, DA Davidson reaffirmed a “buy” rating and set a $5.50 price objective on shares of BRC in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.50.

BRC Price Performance

The firm’s fifty day simple moving average is $3.15 and its 200-day simple moving average is $4.34. The company has a quick ratio of 0.58, a current ratio of 1.14 and a debt-to-equity ratio of 0.92.

BRC (NYSE:BRCC) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $98.20 million during the quarter, compared to analyst estimates of $95.06 million. BRC had a negative net margin of 1.22% and a positive return on equity of 23.35%. During the same period in the previous year, the business earned ($0.05) EPS. As a group, research analysts predict that BRC Inc. will post -0.02 EPS for the current year.

Hedge Funds Weigh In On BRC

A number of hedge funds have recently bought and sold shares of BRCC. Engaged Capital LLC boosted its holdings in shares of BRC by 5.3% during the 3rd quarter. Engaged Capital LLC now owns 13,535,560 shares of the company’s stock valued at $46,292,000 after acquiring an additional 684,542 shares during the last quarter. QVIDTVM Management LLC boosted its holdings in BRC by 24.2% in the third quarter. QVIDTVM Management LLC now owns 3,219,929 shares of the company’s stock worth $11,012,000 after purchasing an additional 627,653 shares during the last quarter. Geode Capital Management LLC grew its position in BRC by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,073,638 shares of the company’s stock worth $3,673,000 after purchasing an additional 10,100 shares during the period. State Street Corp grew its position in BRC by 3.2% in the 3rd quarter. State Street Corp now owns 955,717 shares of the company’s stock worth $3,269,000 after purchasing an additional 29,596 shares during the period. Finally, Marshall Wace LLP raised its stake in BRC by 76.4% during the 2nd quarter. Marshall Wace LLP now owns 812,373 shares of the company’s stock valued at $4,980,000 after buying an additional 351,757 shares during the last quarter. Hedge funds and other institutional investors own 16.29% of the company’s stock.

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.