BRC (NYSE:BRCC) Sees Large Volume Increase – Here’s What Happened

BRC Inc. (NYSE:BRCC) saw an uptick in trading volume on Tuesday . 81,978 shares were traded during mid-day trading, a decline of 26% from the previous session’s volume of 110,312 shares.The stock last traded at $8.31 and had previously closed at $9.33.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen raised BRC from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. DA Davidson reissued a “buy” rating and set a $25.00 price objective on shares of BRC in a report on Wednesday, August 5th. Weiss Ratings cut BRC from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 4th. Finally, Craig Hallum initiated coverage on BRC in a research note on Monday, August 3rd. They issued a “buy” rating and a $17.50 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.50.

BRC Stock Down 14.4%

The firm has a market cap of $2.00 billion, a P/E ratio of -265.87 and a beta of 1.25. The company’s 50-day simple moving average is $10.93 and its 200 day simple moving average is $10.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 0.80.

Insider Transactions at BRC

In related news, Director Stephen M. Kadenacy sold 10,500 shares of the stock in a transaction dated 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 owned 23,495 shares of the company’s stock, valued at approximately $192,659. This trade represents a 30.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Evan Hafer sold 200,000 shares of BRC stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $14.90, for a total value of $2,980,000.00. Additional details regarding this sale are available in the official SEC disclosure. 54.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BRC

Several large investors have recently modified their holdings of the stock. Zazove Associates LLC raised its holdings 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 position in BRC by 9.2% during the first quarter. Bank of America Corp DE now owns 142,209 shares of the company’s stock valued at $110,000 after acquiring an additional 11,933 shares during the last quarter. Renaissance Technologies LLC bought a new position in BRC during the first quarter valued at $232,000. Modera Wealth Management LLC purchased a new stake in shares of BRC in the first quarter valued at $78,000. Finally, Kestra Advisory Services LLC raised its stake in shares of BRC by 63.0% in the first quarter. Kestra Advisory Services LLC now owns 69,001 shares of the company’s stock valued at $54,000 after acquiring an additional 26,672 shares during the period. Institutional investors own 16.29% of the company’s stock.

About BRC

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.