BRC (NYSE:BRCC) Shares Down 4.4% - Here's Why

Key Points

• BRC shares fell 4.4% during Thursday trading, with the stock dropping to as low as $1.19 on heavier-than-average volume. About 1.1 million shares changed hands, roughly 49% above the normal session volume.
• Analyst sentiment is mixed: Weiss Ratings downgraded the stock, while Wall Street Zen upgraded it and DA Davidson reiterated a buy rating with a $2.50 price target. Overall, MarketBeat shows a consensus rating of Hold.
• The company’s latest quarterly results topped expectations, with EPS of $0.00 versus an expected loss and revenue of $109.23 million versus estimates of $96.95 million. Still, BRC remains unprofitable, and insider selling by founder Evan Hafer was notable.

BRC Inc. (NYSE:BRCC - Get Free Report)'s share price fell 4.4% during mid-day trading on Thursday . The stock traded as low as $1.19 and last traded at $1.2050. 1,102,009 shares changed hands during trading, an increase of 49% from the average session volume of 740,025 shares. The stock had previously closed at $1.26.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of BRC from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday. Wall Street Zen raised BRC from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Finally, DA Davidson reiterated a "buy" rating and set a $2.50 price objective on shares of BRC in a research note on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.50.

BRC Stock Down 4.4%

The company has a market cap of $300.65 million, a price-to-earnings ratio of -12.05 and a beta of 1.25. The business has a fifty day moving average of $1.35 and a two-hundred day 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 - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.01. The company had revenue of $109.23 million for the quarter, compared to analyst estimates of $96.95 million. BRC had a negative return on equity of 14.55% and a negative net margin of 2.17%.

Insider Activity

In related news, insider Evan Hafer sold 2,000,000 shares of BRC stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1.49, for a total value of $2,980,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 54.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On BRC

A number of large investors have recently added to or reduced their stakes in BRCC. AQR Capital Management LLC grew its position in shares of BRC by 342.1% in the first quarter. AQR Capital Management LLC now owns 56,861 shares of the company's stock valued at $119,000 after purchasing an additional 43,998 shares during the period. Millennium Management LLC raised its position in shares of BRC by 4.1% during the 1st quarter. Millennium Management LLC now owns 1,871,110 shares of the company's stock worth $3,911,000 after purchasing an additional 72,962 shares during the last quarter. Goldman Sachs Group Inc. raised its position 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 during the last quarter. Geode Capital Management LLC lifted its stake in BRC by 10.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,270,764 shares of the company's stock valued at $1,665,000 after buying an additional 115,289 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in BRC by 158.5% in the 2nd quarter. Rhumbline Advisers now owns 178,510 shares of the company's stock valued at $234,000 after buying an additional 109,444 shares in the last quarter. 16.29% of the stock is currently owned by institutional investors and hedge funds.

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.

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