BRC (NYSE:BRCC) Sees Large Volume Increase – Here’s What Happened

BRC Inc. (NYSE:BRCC) saw strong trading volume on Tuesday . 81,978 shares traded hands during mid-day trading, a decline of 26% from the previous session’s volume of 110,312 shares.The stock last traded at $8.31 and had previously closed at $9.33.

Analysts Set New Price Targets

A number of research firms recently issued reports on BRCC. 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 note on Monday, August 3rd. They issued a “buy” rating and a $17.50 target price on the stock. Weiss Ratings downgraded BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 4th. Finally, DA Davidson reissued a “buy” rating and set a $25.00 target price on shares of BRC in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, BRC has an average rating of “Moderate Buy” and a consensus target price of $22.50.

BRC Price Performance

The firm has a market capitalization of $2.00 billion, a P/E ratio of -265.87 and a beta of 1.25. The stock’s 50 day simple moving average is $10.93 and its 200 day simple moving average is $10.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.80 and a current ratio of 1.42.

Insider Buying and Selling at BRC

In other BRC news, insider Evan Hafer sold 200,000 shares of BRC stock in a transaction on Monday, June 1st. The stock was sold at an average price of $14.90, for a total transaction of $2,980,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen M. Kadenacy sold 10,500 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $8.20, for a total transaction of $86,100.00. Following the transaction, the director owned 23,495 shares in the company, valued at approximately $192,659. The trade was a 30.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 54.87% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Alyeska Investment Group L.P. purchased a new stake in shares of BRC during the 3rd quarter valued at $16,206,000. Vanguard Group Inc. raised its position in shares of BRC by 50.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,152,681 shares of the company’s stock valued at $6,478,000 after purchasing an additional 1,399,833 shares during the last quarter. QVIDTVM Management LLC boosted its stake in BRC by 1.8% in the 4th quarter. QVIDTVM Management LLC now owns 3,400,681 shares of the company’s stock worth $3,775,000 after purchasing an additional 60,000 shares in the last quarter. Nantahala Capital Management LLC acquired a new stake in BRC in the 3rd quarter worth approximately $4,104,000. Finally, Geode Capital Management LLC grew its position in BRC by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 2,234,710 shares of the company’s stock worth $2,481,000 after purchasing an additional 151,438 shares during the last quarter. Institutional investors own 16.29% of the company’s stock.

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.