BRC (NYSE:BRCC) Reaches New 1-Year Low on Analyst Downgrade

BRC Inc. (NYSE:BRCC – Get Rating)’s share price reached a new 52-week low on Thursday after DA Davidson lowered their price target on the stock from $12.00 to $10.00. The stock traded as low as $5.55 and last traded at $5.71, with a volume of 441531 shares traded. The stock had previously closed at $6.17.

Other research analysts have also recently issued reports about the stock. Truist Financial cut their price target on shares of BRC from $10.00 to $5.00 in a report on Thursday. Tigress Financial reiterated a “buy” rating and issued a $19.00 target price on shares of BRC in a research note on Friday, January 20th. Citigroup dropped their target price on shares of BRC from $8.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $12.00 target price on shares of BRC in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BRC has an average rating of “Hold” and an average price target of $10.25.

Insider Buying and Selling at BRC

In related news, CFO Gregory James Iverson sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $8.03, for a total transaction of $401,500.00. Following the sale, the chief financial officer now directly owns 1,417,535 shares in the company, valued at approximately $11,382,806.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 66.17% of the company’s stock.

Hedge Funds Weigh In On BRC

A number of institutional investors have recently made changes to their positions in the stock. Dark Forest Capital Management LP purchased a new stake in BRC during the 4th quarter valued at $26,000. UBS Group AG purchased a new stake in shares of BRC in the 1st quarter worth about $28,000. Tower Research Capital LLC TRC lifted its position in shares of BRC by 251.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,540 shares of the company’s stock worth $28,000 after purchasing an additional 2,533 shares during the period. Barclays PLC lifted its position in shares of BRC by 556.8% in the 4th quarter. Barclays PLC now owns 7,258 shares of the company’s stock worth $45,000 after purchasing an additional 6,153 shares during the period. Finally, Spire Wealth Management increased its stake in shares of BRC by 381.0% in the 3rd quarter. Spire Wealth Management now owns 6,219 shares of the company’s stock worth $48,000 after acquiring an additional 4,926 shares in the last quarter. Institutional investors own 12.98% of the company’s stock.

BRC Stock Performance

The company has a current ratio of 2.35, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $6.58 and its 200-day moving average is $6.90. The company has a market capitalization of $1.17 billion, a P/E ratio of -3.15 and a beta of 0.65.

About BRC

(Get Rating)

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel. The company also produces media content; podcasts; and digital and print journals, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.