BRC Inc. (NYSE:BRCC – Get Rating) traded down 5.3% on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $9.00 to $8.00. The stock traded as low as $5.21 and last traded at $5.22. 212,122 shares were traded during mid-day trading, a decline of 66% from the average session volume of 622,021 shares. The stock had previously closed at $5.51.
Several other equities research analysts also recently issued reports on BRCC. DA Davidson cut their target price on shares of BRC from $12.00 to $10.00 in a research note on Thursday. Tigress Financial reiterated a “buy” rating and issued a $19.00 target price on shares of BRC in a research note on Friday, January 20th. Citigroup cut their target price on shares of BRC from $8.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday. Truist Financial cut their target price on shares of BRC from $10.00 to $5.00 in a research note on Thursday. Finally, Telsey Advisory Group restated an “outperform” rating and set a $12.00 price objective on shares of BRC in a research report on Monday. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.08.
Insider Transactions at BRC
In other news, CFO Gregory James Iverson sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $8.03, for a total transaction of $401,500.00. Following the transaction, the chief financial officer now directly owns 1,417,535 shares of the company’s stock, valued at $11,382,806.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 66.17% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake in BRC by 58.0% in the fourth quarter. Alliancebernstein L.P. now owns 21,800 shares of the company’s stock valued at $133,000 after acquiring an additional 8,000 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of BRC during the fourth quarter worth $217,000. Man Group plc grew its stake in shares of BRC by 62.8% during the fourth quarter. Man Group plc now owns 26,697 shares of the company’s stock worth $163,000 after buying an additional 10,297 shares during the last quarter. Engaged Capital LLC grew its stake in shares of BRC by 0.8% during the fourth quarter. Engaged Capital LLC now owns 13,351,450 shares of the company’s stock worth $81,577,000 after buying an additional 100,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of BRC by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 249,611 shares of the company’s stock worth $1,525,000 after buying an additional 11,732 shares during the last quarter. 12.98% of the stock is owned by institutional investors.
BRC Trading Down 4.4 %
The business’s 50 day simple moving average is $6.58 and its two-hundred day simple moving average is $6.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.68 and a current ratio of 2.35.
About BRC
BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel. The company also produces media content; podcasts; and digital and print journals, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.