BRC (NYSE:BRCC) Shares Up 11.1% After Better-Than-Expected Earnings

BRC Inc. (NYSE:BRCC) shot up 11.1% on Tuesday following a stronger than expected earnings report. The stock traded as high as $3.52 and last traded at $3.51. 251,396 shares traded hands during trading, a decline of 72% from the average session volume of 889,688 shares. The stock had previously closed at $3.16.

The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.06 million. BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. During the same period last year, the firm posted ($0.05) earnings per share.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BRCC shares. Telsey Advisory Group reissued an “outperform” rating and issued a $6.00 price target on shares of BRC in a research note on Thursday, October 31st. Roth Capital cut shares of BRC from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. DA Davidson restated a “buy” rating and set a $5.50 price objective on shares of BRC in a research report on Wednesday, September 18th. Finally, Roth Mkm cut shares of BRC from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $8.00 to $4.00 in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.63.

Insider Buying and Selling at BRC

In other BRC news, Director Evan Hafer sold 3,000,000 shares of BRC stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total transaction of $9,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Evan Hafer sold 3,000,000 shares of BRC stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $3.20, for a total value of $9,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas E. Davin sold 10,884 shares of BRC stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $3.81, for a total transaction of $41,468.04. Following the completion of the transaction, the director now owns 15,851 shares of the company’s stock, valued at $60,392.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,010,884 shares of company stock worth $12,811,468 over the last three months. Insiders own 73.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new position in BRC in the second quarter worth approximately $28,000. Comerica Bank lifted its stake in BRC by 316.4% in the first quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after acquiring an additional 4,600 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in BRC by 32.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock worth $125,000 after acquiring an additional 5,064 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in BRC in the first quarter worth approximately $45,000. Finally, Fortis Group Advisors LLC lifted its stake in BRC by 25.0% in the second quarter. Fortis Group Advisors LLC now owns 56,925 shares of the company’s stock worth $349,000 after acquiring an additional 11,388 shares during the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.

BRC Stock Up 3.2 %

The company has a market cap of $692.82 million, a PE ratio of -27.16 and a beta of 1.16. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 0.59. The business’s 50 day moving average is $3.50 and its 200-day moving average is $4.66.

About BRC

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.