BRC (NYSE:BRCC) Shares Gap Up to $5.63

BRC Inc. (NYSE:BRCC) gapped up before the market opened on Monday . The stock had previously closed at $5.63, but opened at $5.80. BRC shares last traded at $5.71, with a volume of 113,446 shares.

Analysts Set New Price Targets

BRCC has been the subject of several research reports. Roth Mkm reissued a “buy” rating and set a $7.00 price target (up from $6.00) on shares of BRC in a report on Friday, May 10th. Telsey Advisory Group reissued an “outperform” rating and set a $8.00 target price on shares of BRC in a report on Wednesday, July 10th. Tigress Financial restated a “buy” rating and issued a $11.00 price target on shares of BRC in a research note on Wednesday, May 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of BRC in a research note on Thursday, May 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, BRC currently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

BRC Price Performance

The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.51 and a current ratio of 1.07. The company’s 50-day moving average is $5.95 and its two-hundred day moving average is $4.88.

BRC (NYSE:BRCC) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $98.39 million during the quarter, compared to the consensus estimate of $97.78 million. BRC had a negative net margin of 2.78% and a positive return on equity of 14.15%. As a group, analysts anticipate that BRC Inc. will post 0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On BRC

A number of large investors have recently modified their holdings of BRCC. Bank of New York Mellon Corp lifted its position in shares of BRC by 42.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 161,053 shares of the company’s stock worth $987,000 after buying an additional 47,800 shares during the last quarter. Comerica Bank raised its stake in BRC by 316.4% during the first quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after acquiring an additional 4,600 shares in the last quarter. Vanguard Group Inc. raised its stake in BRC by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,162,960 shares of the company’s stock worth $17,817,000 after acquiring an additional 14,361 shares in the last quarter. Magnolia Wealth Management LLC bought a new position in shares of BRC in the first quarter worth about $254,000. Finally, Maso Capital Partners Ltd acquired a new stake in shares of BRC in the 1st quarter valued at approximately $2,140,000. 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.