BRC (NYSE:BRCC) Shares Up 2.3% - Here's What Happened

Key Points

• Shares rose 2.3% to $1.1050 on Thursday, trading as high as $1.16 with volume of 835,493 shares—about 100% above the average session volume.
• Director Steven Taslitz bought 150,000 shares at $0.75, increasing his stake by 33.25%; insiders now own 54.87% of the company.
• Analysts are mixed (average rating "Hold" and $2.33 target), while company fundamentals show negative EPS (−$0.03), a negative net margin (−2.99%), and a market cap of ~$274.8M.

BRC Inc. (NYSE:BRCC - Get Free Report)'s share price shot up 2.3% on Thursday . The stock traded as high as $1.16 and last traded at $1.1050. 835,493 shares changed hands during trading, an increase of 100% from the average session volume of 416,854 shares. The stock had previously closed at $1.08.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BRCC. Telsey Advisory Group reiterated an "outperform" rating and set a $2.50 target price on shares of BRC in a research report on Tuesday, March 3rd. DA Davidson set a $2.50 target price on shares of BRC in a research report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of BRC in a research report on Monday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $2.33.

BRC Stock Performance

The stock has a market capitalization of $274.81 million, a price-to-earnings ratio of -7.89 and a beta of 0.77. The company has a quick ratio of 0.67, a current ratio of 1.32 and a debt-to-equity ratio of 0.48. The stock's 50-day simple moving average is $0.81 and its 200 day simple moving average is $1.04.

BRC (NYSE:BRCC - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.03) EPS for the quarter. The firm had revenue of $112.74 million during the quarter. BRC had a negative net margin of 2.99% and a negative return on equity of 21.46%.

Insider Buying and Selling

In other news, Director Steven Taslitz purchased 150,000 shares of BRC stock in a transaction on Thursday, March 5th. The shares were purchased at an average cost of $0.75 per share, for a total transaction of $112,500.00. Following the completion of the transaction, the director directly owned 601,184 shares in the company, valued at approximately $450,888. This represents a 33.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 54.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BRC

A number of institutional investors have recently modified their holdings of BRCC. Kestra Private Wealth Services LLC bought a new position in shares of BRC in the fourth quarter worth about $26,000. Engineers Gate Manager LP bought a new position in shares of BRC in the second quarter worth about $27,000. CWM LLC raised its stake in shares of BRC by 63.3% in the third quarter. CWM LLC now owns 18,616 shares of the company's stock worth $29,000 after acquiring an additional 7,215 shares during the last quarter. Virtu Financial LLC raised its stake in shares of BRC by 82.2% in the third quarter. Virtu Financial LLC now owns 21,037 shares of the company's stock worth $33,000 after acquiring an additional 9,492 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of BRC by 96.1% in the fourth quarter. Invesco Ltd. now owns 30,140 shares of the company's stock worth $33,000 after acquiring an additional 14,769 shares during the last quarter. 16.29% of the stock is owned by institutional investors.

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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