BRC Target of Unusually Large Options Trading (NYSE:BRCC)

Key Points

• BRCC options activity surged: Investors purchased 19,255 call options, roughly 3,169% above the typical daily volume of 589 calls.
• The stock slipped 1.4% to $1.03 despite quarterly revenue of $109.23 million exceeding estimates and adjusted EPS meeting or beating expectations by $0.01.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $2.25 average price target, although insider Evan Hafer recently sold 2 million shares for approximately $2.98 million.

BRC Inc. (NYSE:BRCC - Get Free Report) saw unusually large options trading activity on Tuesday. Investors purchased 19,255 call options on the stock. This is an increase of approximately 3,169% compared to the typical daily volume of 589 call options.

BRC Stock Down 1.4%

NYSE BRCC traded down $0.01 during trading on Tuesday, reaching $1.03. 1,742,144 shares of the company's stock were exchanged, compared to its average volume of 1,053,025. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 1.36. BRC has a 1 year low of $0.60 and a 1 year high of $1.85. The stock has a market cap of $258.23 million, a P/E ratio of -10.35 and a beta of 1.25. The company has a 50 day moving average price of $1.26 and a two-hundred day moving average price of $1.06.

BRC (NYSE:BRCC - Get Free Report) last announced its quarterly earnings results 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 net margin of 2.17% and a negative return on equity of 14.55%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BRCC. DA Davidson reaffirmed a "buy" rating and set a $2.50 target price on shares of BRC in a research note on Thursday, July 2nd. Weiss Ratings raised shares of BRC from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 21st. Craig Hallum started coverage on shares of BRC in a research note on Monday. They issued a "buy" rating and a $1.75 price objective for the company. Finally, Wall Street Zen upgraded shares of BRC from a "hold" rating to a "buy" rating in a research note on Saturday, May 23rd. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2.25.

Insider Activity at BRC

In related news, insider Evan Hafer sold 2,000,000 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.49, for a total transaction of $2,980,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 54.87% of the stock is owned by company insiders.

Institutional Trading of BRC

Several institutional investors and hedge funds have recently bought and sold shares of BRCC. Alyeska Investment Group L.P. purchased a new position in BRC during the 3rd quarter worth $16,206,000. Nantahala Capital Management LLC acquired a new stake in BRC in the third quarter valued at about $4,104,000. Zazove Associates LLC boosted its holdings in BRC by 270.7% in the 1st quarter. Zazove Associates LLC now owns 2,000,000 shares of the company's stock valued at $1,552,000 after purchasing an additional 1,460,546 shares in the last quarter. Vanguard Group Inc. boosted its holdings in BRC by 50.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,152,681 shares of the company's stock valued at $6,478,000 after purchasing an additional 1,399,833 shares in the last quarter. Finally, Millennium Management LLC increased its position in BRC by 71.5% during the 3rd quarter. Millennium Management LLC now owns 1,900,439 shares of the company's stock worth $2,965,000 after purchasing an additional 792,458 shares during the period. Hedge funds and other institutional investors own 16.29% of the company's stock.

About BRC

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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