Short Interest in BRC Inc. (NYSE:BRCC) Expands By 31.2%

Key Points

• BRC Inc. (NYSE:BRCC) experienced a31.2% increase in short interest for August, reaching a total of 6,480,000 shares sold short.
• Insider transactions included Director Evan Hafer and Director Stephen M. Kadenacy each acquiring 80,000 shares at $1.25, increasing their holdings in the company.
• Analysts have a consensus rating of "Moderate Buy" for BRC with an average price target of $2.88, despite missing earnings expectations for the last quarter.

BRC Inc. (NYSE:BRCC - Get Free Report) saw a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 6,480,000 shares, a growth of 31.2% from the July 31st total of 4,940,000 shares. Approximately 6.5% of the company's shares are short sold. Based on an average daily trading volume, of 936,700 shares, the days-to-cover ratio is presently 6.9 days. Based on an average daily trading volume, of 936,700 shares, the days-to-cover ratio is presently 6.9 days. Approximately 6.5% of the company's shares are short sold.

Insiders Place Their Bets

In other BRC news, Director Steven Taslitz acquired 100,000 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were acquired at an average price of $1.31 per share, for a total transaction of $131,000.00. Following the acquisition, the director directly owned 1,786,203 shares of the company's stock, valued at approximately $2,339,925.93. This trade represents a 5.93% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Glenn W. Welling acquired 400,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were acquired at an average price of $1.25 per share, for a total transaction of $500,000.00. Following the acquisition, the director directly owned 13,935,560 shares in the company, valued at $17,419,450. This represents a 2.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 676,000 shares of company stock worth $851,000. Company insiders own 69.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in shares of BRC by 1,018.3% during the 4th quarter. Millennium Management LLC now owns 1,798,148 shares of the company's stock worth $5,700,000 after purchasing an additional 1,637,357 shares in the last quarter. Cresset Asset Management LLC grew its holdings in shares of BRC by 30.3% during the 2nd quarter. Cresset Asset Management LLC now owns 4,297,158 shares of the company's stock worth $5,629,000 after purchasing an additional 1,000,000 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of BRC by 779.4% during the 2nd quarter. Osaic Holdings Inc. now owns 563,840 shares of the company's stock worth $739,000 after purchasing an additional 499,722 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of BRC by 204.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 651,251 shares of the company's stock worth $1,361,000 after purchasing an additional 437,359 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of BRC by 697.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 445,764 shares of the company's stock worth $1,413,000 after purchasing an additional 389,833 shares in the last quarter. 16.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on BRCC. Wall Street Zen upgraded BRC from a "sell" rating to a "hold" rating in a research note on Saturday. Telsey Advisory Group reissued an "outperform" rating and set a $4.00 target price on shares of BRC in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2.88.

BRC Stock Performance

Shares of BRCC stock traded down $0.05 during trading on Friday, reaching $1.62. 428,387 shares of the company's stock were exchanged, compared to its average volume of 576,887. The company has a quick ratio of 0.70, a current ratio of 1.29 and a debt-to-equity ratio of 1.97. The firm's fifty day moving average price is $1.61 and its 200-day moving average price is $1.81. BRC has a twelve month low of $1.19 and a twelve month high of $3.85. The stock has a market capitalization of $400.88 million, a PE ratio of -10.77 and a beta of 0.92.

BRC (NYSE:BRCC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). BRC had a negative net margin of 2.89% and a negative return on equity of 12.88%. The firm had revenue of $94.84 million during the quarter, compared to analyst estimates of $91.78 million. BRC has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that BRC will post -0.02 EPS for the current year.

BRC Company Profile

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.