BRC (NYSE:BRCC) Share Price Crosses Below 200-Day Moving Average on Disappointing Earnings

Key Points

• BRC shares fell below their 200-day moving average, trading as low as $8.03 and last at $9.637, below the $10.23 average.
• The company reported a quarterly loss of $0.28 per share, missing the $0.06 consensus estimate, while revenue of $108.04 million topped expectations of $105.89 million.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $22.50; three analysts rate the stock Buy and one rates it Sell.

BRC Inc. (NYSE:BRCC - Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday following a dissappointing earnings announcement. The stock has a 200-day moving average of $10.23 and traded as low as $8.03. BRC shares last traded at $9.6370, with a volume of 339,187 shares trading hands.

The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.34). The firm had revenue of $108.04 million for the quarter, compared to analysts' expectations of $105.89 million. BRC had a negative return on equity of 9.44% and a negative net margin of 1.53%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BRCC. DA Davidson raised their target price on BRC from $2.50 to $25.00 and gave the stock a "buy" rating in a research note on Monday, August 31st. Weiss Ratings reissued a "sell (e+)" rating on shares of BRC in a research report on Monday. Finally, Craig Hallum started coverage on shares of BRC in a research report on Monday, August 3rd. They set a "buy" rating and a $17.50 price target on the stock. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, BRC currently has an average rating of "Moderate Buy" and an average price target of $22.50.

Insider Buying and Selling at BRC

In other BRC news, insider Evan Hafer sold 15,304 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $10.62, for a total value of $162,528.48. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen M. Kadenacy sold 10,500 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $8.20, for a total value of $86,100.00. Following the completion of the transaction, the director directly owned 23,495 shares in the company, valued at $192,659. This trade represents a 30.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 46,300 shares of company stock valued at $474,943. Insiders own 54.87% of the company's stock.

Institutional Investors Weigh In On BRC

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP boosted its holdings in shares of BRC by 83.2% in the second quarter. Engineers Gate Manager LP now owns 24,326 shares of the company's stock valued at $27,000 after acquiring an additional 11,048 shares during the period. Kestra Private Wealth Services LLC increased its holdings in shares of BRC by 67.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 38,600 shares of the company's stock valued at $30,000 after acquiring an additional 15,500 shares during the period. Kestra Advisory Services LLC raised its position in BRC by 63.0% in the 1st quarter. Kestra Advisory Services LLC now owns 69,001 shares of the company's stock valued at $54,000 after purchasing an additional 26,672 shares during the last quarter. Modera Wealth Management LLC purchased a new stake in BRC in the 1st quarter valued at $78,000. Finally, Squarepoint Ops LLC raised its position in BRC by 53.8% in the 2nd quarter. Squarepoint Ops LLC now owns 72,944 shares of the company's stock valued at $81,000 after purchasing an additional 25,519 shares during the last quarter. 16.29% of the stock is owned by hedge funds and other institutional investors.

BRC Stock Performance

The stock has a market cap of $241.21 million, a price-to-earnings ratio of -16.62 and a beta of 1.21. The stock's 50 day moving average is $9.67 and its two-hundred day moving average is $10.23. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.40.

BRC Company Profile

Black Rifle Coffee Company NYSE: BRCC is a veteran-founded coffee and lifestyle company focused on producing, marketing and selling premium coffee products. Its offerings include whole-bean and ground coffee, single-serve options, ready-to-drink beverages, tea, brewing equipment, apparel and other branded merchandise.

The company distributes its products through direct-to-consumer channels, including its online store and coffee subscription programs, as well as wholesale and retail partners.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.