BRC Inc. (NYSE:BRCC) Short Interest Down 88.7% in August

BRC Inc. (NYSE:BRCC) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 439,232 shares, a decline of 88.7% from the August 15th total of 3,890,502 shares. Based on an average daily volume of 188,952 shares, the short-interest ratio is presently 2.3 days. Approximately 3.9% of the shares of the stock are short sold.

BRC Trading Up 4.1%

Shares of NYSE BRCC traded up $0.34 during mid-day trading on Friday, hitting $8.66. The stock had a trading volume of 54,249 shares, compared to its average volume of 141,906. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.80 and a current ratio of 1.42. BRC has a 1 year low of $6.00 and a 1 year high of $18.55. The business has a 50 day moving average price of $9.85 and a two-hundred day moving average price of $10.67. The firm has a market cap of $216.76 million, a P/E ratio of -28.87 and a beta of 1.22.

Insider Activity

In other news, Director Stephen Kadenacy sold 10,500 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $8.20, for a total value of $86,100.00. Following the completion of the transaction, the director directly owned 23,495 shares in the company, valued at approximately $192,659. This represents a 30.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 54.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BRCC. Zazove Associates LLC increased its stake in shares of BRC by 270.7% during the first quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock valued at $1,552,000 after buying an additional 1,460,546 shares during the period. Prescott Group Capital Management L.L.C. purchased a new stake in BRC in the fourth quarter worth $325,000. Kestra Advisory Services LLC boosted its holdings in BRC by 63.0% in the first quarter. Kestra Advisory Services LLC now owns 69,001 shares of the company’s stock valued at $54,000 after acquiring an additional 26,672 shares in the last quarter. Modera Wealth Management LLC bought a new stake in BRC in the first quarter valued at $78,000. Finally, Kestra Private Wealth Services LLC increased its position in BRC by 67.1% during the 1st quarter. Kestra Private Wealth Services LLC now owns 38,600 shares of the company’s stock valued at $30,000 after purchasing an additional 15,500 shares during the period. Institutional investors own 16.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BRCC. DA Davidson upped their target price on BRC from $2.50 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Craig Hallum started coverage on shares of BRC in a report on Monday, August 3rd. They issued a “buy” rating and a $17.50 price objective for the company. Weiss Ratings cut shares of BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of BRC from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

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.