BRC (NYSE:BRCC) Now Covered by Analysts at Craig Hallum

Research analysts at Craig Hallum began coverage on shares of BRC (NYSE:BRCC) in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $1.75 price target on the stock. Craig Hallum’s price objective would indicate a potential upside of 67.46% from the stock’s current price.

A number of other equities analysts have also recently issued reports on BRCC. Wall Street Zen upgraded shares of BRC from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. DA Davidson reissued a “buy” rating and issued a $2.50 price target on shares of BRC in a research report on Thursday, July 2nd. Finally, Weiss Ratings raised BRC from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BRC has an average rating of “Moderate Buy” and a consensus target price of $2.25.

BRC Stock Performance

Shares of NYSE BRCC opened at $1.04 on Monday. The firm has a market capitalization of $260.73 million, a price-to-earnings ratio of -10.45 and a beta of 1.25. BRC has a one year low of $0.60 and a one year high of $1.85. The business has a fifty day simple moving average of $1.27 and a 200 day simple moving average of $1.06. The company has a current ratio of 1.36, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

BRC (NYSE:BRCC) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.01. The firm had revenue of $109.23 million for the quarter, compared to the consensus estimate of $96.95 million. BRC had a negative net margin of 2.17% and a negative return on equity of 14.55%.

Insider Buying and Selling

In other BRC news, insider Evan Hafer sold 2,000,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.49, for a total transaction of $2,980,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 54.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BRC

A number of hedge funds and other institutional investors have recently bought and sold shares of BRCC. Alyeska Investment Group L.P. bought a new position in shares of BRC in the third quarter valued at about $16,206,000. Nantahala Capital Management LLC bought a new stake in shares of BRC during the third quarter valued at approximately $4,104,000. Zazove Associates LLC increased its holdings in shares of BRC by 270.7% in the first quarter. Zazove Associates LLC now owns 2,000,000 shares of the company’s stock valued at $1,552,000 after purchasing an additional 1,460,546 shares in the last quarter. Vanguard Group Inc. lifted its holdings in BRC by 50.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,152,681 shares of the company’s stock worth $6,478,000 after buying an additional 1,399,833 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of BRC by 71.5% during the third quarter. Millennium Management LLC now owns 1,900,439 shares of the company’s stock valued at $2,965,000 after acquiring an additional 792,458 shares during the period. 16.29% of the stock is owned by institutional investors and hedge funds.

About BRC

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.