BRC (NYSE:BRCC) Trading 4.1% Higher - Here's Why

BRC Inc. (NYSE:BRCC - Get Free Report)'s stock price was up 4.1% during trading on Monday . The stock traded as high as $2.37 and last traded at $2.39. Approximately 63,224 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 858,178 shares. The stock had previously closed at $2.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BRCC shares. Roth Capital set a $2.00 price objective on BRC and gave the company a "neutral" rating in a research note on Wednesday. Roth Mkm reissued a "neutral" rating and set a $2.50 price target (down previously from $3.50) on shares of BRC in a research report on Wednesday, March 5th. DA Davidson restated a "buy" rating and issued a $3.00 price target on shares of BRC in a research note on Wednesday, March 19th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $4.00 price objective on shares of BRC in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $4.50.

BRC Stock Performance

The company has a 50-day moving average of $2.10 and a 200-day moving average of $2.63. The firm has a market capitalization of $346.48 million, a price-to-earnings ratio of -20.31 and a beta of 1.14. The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.92.

BRC (NYSE:BRCC - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). BRC had a positive return on equity of 23.35% and a negative net margin of 1.22%. The business had revenue of $89.97 million during the quarter, compared to the consensus estimate of $88.08 million. On average, equities research analysts forecast that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BRC

A number of hedge funds and other institutional investors have recently bought and sold shares of BRCC. Jones Financial Companies Lllp lifted its holdings in shares of BRC by 106.0% in the 4th quarter. Jones Financial Companies Lllp now owns 9,011 shares of the company's stock worth $29,000 after purchasing an additional 4,637 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in BRC in the fourth quarter valued at $30,000. Ameriprise Financial Inc. acquired a new position in shares of BRC during the fourth quarter valued at $47,000. ProShare Advisors LLC bought a new position in shares of BRC during the fourth quarter worth about $47,000. Finally, Lake Street Advisors Group LLC bought a new position in shares of BRC during the fourth quarter worth about $48,000. 16.29% of the stock is currently owned by institutional investors and hedge funds.

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.