BRC (NYSE:BRCC – Get Free Report) issued its earnings results on Monday. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.01, reports. The firm had revenue of $109.23 million for the quarter, compared to analysts’ expectations of $96.95 million. BRC had a negative net margin of 2.99% and a negative return on equity of 21.46%.
BRC Price Performance
BRCC traded up $0.20 during midday trading on Tuesday, reaching $1.29. 7,812,894 shares of the company’s stock were exchanged, compared to its average volume of 981,456. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.32 and a quick ratio of 0.67. The stock has a market capitalization of $320.57 million, a PE ratio of -9.18 and a beta of 1.03. The business’s 50-day moving average price is $0.85 and its 200 day moving average price is $1.02. BRC has a 1-year low of $0.60 and a 1-year high of $2.10.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of BRC in a research note on Monday, April 20th. Telsey Advisory Group reiterated an “outperform” rating and set a $2.50 price target on shares of BRC in a research report on Tuesday, March 3rd. Finally, DA Davidson set a $2.50 price target on BRC in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.33.
Insider Activity at BRC
In other BRC news, Director Steven Taslitz acquired 150,000 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was acquired at an average cost of $0.75 per share, with a total value of $112,500.00. Following the purchase, the director directly owned 601,184 shares in the company, valued at approximately $450,888. This trade represents a 33.25% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 54.87% of the stock is owned by corporate insiders.
Institutional Trading of BRC
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP purchased a new stake in shares of BRC in the second quarter valued at $27,000. Virtu Financial LLC raised its position in shares of BRC by 82.2% during the 3rd quarter. Virtu Financial LLC now owns 21,037 shares of the company’s stock worth $33,000 after purchasing an additional 9,492 shares during the period. BNP Paribas Financial Markets increased its position in BRC by 312.6% in the third quarter. BNP Paribas Financial Markets now owns 27,016 shares of the company’s stock worth $42,000 after buying an additional 20,469 shares during the period. Invesco Ltd. boosted its holdings in shares of BRC by 96.1% during the fourth quarter. Invesco Ltd. now owns 30,140 shares of the company’s stock valued at $33,000 after acquiring an additional 14,769 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of BRC by 270.6% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 38,794 shares of the company’s stock worth $43,000 after acquiring an additional 28,326 shares during the period. 16.29% of the stock is owned by hedge funds and other institutional investors.
BRC Company Profile
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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