BRC (NYSE:BRCC) Stock Price Breaks Above 50 Day Moving Average - What's Next?

Key Points

• BRC shares rose above their 50-day moving average, trading as high as $10.17 and last at $10.09, compared with a 50-day average of $9.85.
• Analyst views are mixed but lean positive: MarketBeat reports a “Moderate Buy” consensus from three Buy ratings and one Sell, with an average price target of $22.50.
• In its latest quarter, BRC reported a loss of $0.28 per share, missing the consensus estimate of $0.06 earnings, while revenue of $108.04 million exceeded estimates of $105.89 million.

BRC Inc. (NYSE:BRCC - Get Free Report) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $9.85 and traded as high as $10.17. BRC shares last traded at $10.09, with a volume of 123,596 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BRCC. Craig Hallum began coverage on BRC in a research report on Monday, August 3rd. They set a "buy" rating and a $17.50 price target on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of BRC in a report on Monday, November 2nd. Wall Street Zen downgraded shares of BRC from a "buy" rating to a "hold" rating in a report on Saturday, November 7th. Finally, DA Davidson boosted their target price on shares of BRC from $2.50 to $25.00 and gave the company a "buy" rating in a research note on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.50.

BRC Stock Up 3.0%

The firm's 50-day moving average price is $9.85 and its 200 day moving average price is $10.23. The firm has a market cap of $252.96 million, a P/E ratio of -17.40 and a beta of 1.21. The company has a quick ratio of 1.02, a current ratio of 1.59 and a debt-to-equity ratio of 0.31.

BRC (NYSE:BRCC - Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.34). The firm had revenue of $108.04 million during the quarter, compared to analyst estimates of $105.89 million. BRC had a negative return on equity of 9.55% and a negative net margin of 1.53%.

Insider Activity at BRC

In other news, insider Evan Hafer sold 12,000 shares of BRC stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $11.37, for a total transaction of $136,440.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen Kadenacy sold 10,500 shares of BRC stock in a transaction that occurred 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 sale, the director directly owned 23,495 shares in the company, valued at approximately $192,659. This trade represents a 30.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 46,300 shares of company stock worth $474,943 in the last 90 days. 54.87% of the stock is owned by company insiders.

Institutional Trading of BRC

Several large investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP increased its holdings in shares of BRC by 83.2% during the second quarter. Engineers Gate Manager LP now owns 24,326 shares of the company's stock valued at $27,000 after purchasing an additional 11,048 shares during the period. Squarepoint Ops LLC grew 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 buying an additional 25,519 shares in the last quarter. Zazove Associates LLC increased its stake in BRC by 270.7% during the 1st quarter. Zazove Associates LLC now owns 2,000,000 shares of the company's stock valued at $1,552,000 after buying an additional 1,460,546 shares during the period. Bank of America Corp DE increased its stake in BRC by 9.2% during the 1st quarter. Bank of America Corp DE now owns 142,209 shares of the company's stock valued at $110,000 after buying an additional 11,933 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in BRC during the 1st quarter valued at about $232,000. 16.29% of the stock is currently owned by institutional investors and hedge funds.

About BRC

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. It also operates branded coffee shops and serves customers primarily in the United States, with its products available through a range of retail and e-commerce channels.

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