BRC (NYSE:BRCC) Trading Down 5.3% on Analyst Downgrade

BRC Inc. (NYSE:BRCC – Get Rating)’s stock price traded down 5.3% on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $9.00 to $8.00. The stock traded as low as $5.21 and last traded at $5.22. 212,122 shares were traded during trading, a decline of 66% from the average session volume of 622,021 shares. The stock had previously closed at $5.51.

Several other brokerages have also issued reports on BRCC. Truist Financial decreased their price target on BRC from $10.00 to $5.00 in a research note on Thursday. DA Davidson decreased their price target on BRC from $12.00 to $10.00 in a research note on Thursday. Tigress Financial reissued a “buy” rating and set a $19.00 price objective on shares of BRC in a report on Friday, January 20th. Citigroup cut their price objective on BRC from $8.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $12.00 price objective on shares of BRC in a report on Monday, March 13th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.08.

Insider Activity

In other news, CFO Gregory James Iverson sold 50,000 shares of the business’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $8.03, for a total value of $401,500.00. Following the transaction, the chief financial officer now directly owns 1,417,535 shares of the company’s stock, valued at approximately $11,382,806.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 66.17% of the stock is owned by company insiders.

Institutional Trading of BRC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRCC. Dark Forest Capital Management LP bought a new stake in BRC in the 4th quarter valued at about $26,000. UBS Group AG bought a new stake in BRC during the 1st quarter worth approximately $28,000. Tower Research Capital LLC TRC increased its holdings in BRC by 251.5% during 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 in the last quarter. Barclays PLC increased its holdings in BRC by 556.8% during 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 in the last quarter. Finally, Spire Wealth Management increased its holdings in BRC by 381.0% during the 3rd quarter. Spire Wealth Management now owns 6,219 shares of the company’s stock worth $48,000 after purchasing an additional 4,926 shares in the last quarter. 12.98% of the stock is owned by institutional investors.

BRC Price 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 business has a fifty day simple moving average of $6.56 and a 200 day simple moving average of $6.84. The stock has a market capitalization of $1.09 billion, a P/E ratio of -2.95 and a beta of 0.65.

About BRC

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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.