BRC Inc. (NYSE:BRCC) Short Interest Up 6.2% in March

BRC Inc. (NYSE:BRCC - Get Free Report) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 9,270,000 shares, an increase of 6.2% from the February 29th total of 8,730,000 shares. Approximately 14.8% of the shares of the company are sold short. Based on an average daily trading volume, of 744,700 shares, the days-to-cover ratio is currently 12.4 days.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group restated an "outperform" rating and issued a $8.00 price target on shares of BRC in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, BRC has an average rating of "Moderate Buy" and a consensus price target of $7.92.

BRC Price Performance

Shares of NYSE:BRCC traded up $0.02 during trading on Tuesday, reaching $4.38. 610,383 shares of the company traded hands, compared to its average volume of 766,590. The firm has a market capitalization of $929.22 million, a PE ratio of -16.22 and a beta of 0.99. BRC has a 52 week low of $2.51 and a 52 week high of $5.85. The company has a quick ratio of 0.61, a current ratio of 1.28 and a debt-to-equity ratio of 1.48. The company's 50 day moving average is $4.23 and its two-hundred day moving average is $3.81.

BRC (NYSE:BRCC - Get Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.20. The business had revenue of $119.65 million during the quarter, compared to the consensus estimate of $124.38 million. BRC had a positive return on equity of 4.11% and a negative net margin of 4.23%. As a group, sell-side analysts predict that BRC will post -0.01 earnings per share for the current year.

Institutional Trading of BRC

Several large investors have recently made changes to their positions in BRCC. Vanguard Group Inc. grew its position in BRC by 220.3% in the third quarter. Vanguard Group Inc. now owns 3,484,625 shares of the company's stock valued at $26,937,000 after acquiring an additional 2,396,808 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of BRC by 106,550.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 479,925 shares of the company's stock valued at $1,723,000 after purchasing an additional 479,475 shares during the last quarter. BlackRock Inc. grew its holdings in shares of BRC by 26.9% during the 2nd quarter. BlackRock Inc. now owns 2,224,560 shares of the company's stock valued at $11,479,000 after purchasing an additional 472,117 shares during the last quarter. QVIDTVM Management LLC increased its position in BRC by 19.9% during the 3rd quarter. QVIDTVM Management LLC now owns 2,477,346 shares of the company's stock worth $8,894,000 after purchasing an additional 411,231 shares in the last quarter. Finally, State Street Corp lifted its stake in BRC by 549.4% in the 2nd quarter. State Street Corp now owns 441,789 shares of the company's stock valued at $3,605,000 after purchasing an additional 373,761 shares during the last quarter. Institutional investors and hedge funds own 16.29% of the company's stock.

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.