BRC Inc. (NYSE:BRCC) Short Interest Update

BRC Inc. (NYSE:BRCC) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 439,232 shares, a drop of 88.7% from the August 15th total of 3,890,502 shares. Based on an average daily trading volume, of 188,952 shares, the days-to-cover ratio is presently 2.3 days. Currently, 3.9% of the shares of the stock are short sold.

BRC Stock Up 3.3%

Shares of BRCC stock traded up $0.28 on Friday, reaching $8.60. 28,822 shares of the company were exchanged, compared to its average volume of 112,004. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 0.80. The company has a 50-day moving average of $9.92 and a 200-day moving average of $10.68. The company has a market cap of $215.12 million, a price-to-earnings ratio of -28.65 and a beta of 1.22. BRC has a one year low of $6.00 and a one year high of $18.55.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BRCC. Craig Hallum initiated coverage on BRC in a research report on Monday, August 3rd. They issued a “buy” rating and a $17.50 target price on the stock. DA Davidson boosted their price objective on shares of BRC from $2.50 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Wall Street Zen upgraded BRC from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings downgraded BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 4th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.50.

Insider Buying and Selling at BRC

In related news, 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 transaction, the director directly owned 23,495 shares of the company’s stock, valued at $192,659. This trade represents a 30.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 54.87% of the company’s stock.

Institutional Investors Weigh In On BRC

A number of institutional investors and hedge funds have recently made changes to their positions in BRCC. AQR Capital Management LLC raised its stake in shares of BRC by 342.1% in the first quarter. AQR Capital Management LLC now owns 56,861 shares of the company’s stock worth $119,000 after purchasing an additional 43,998 shares during the last quarter. Millennium Management LLC lifted its position in shares of BRC by 4.1% during the first quarter. Millennium Management LLC now owns 1,871,110 shares of the company’s stock valued at $3,911,000 after purchasing an additional 72,962 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in BRC by 204.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 651,251 shares of the company’s stock valued at $1,361,000 after buying an additional 437,359 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of BRC by 10.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,270,764 shares of the company’s stock worth $1,665,000 after buying an additional 115,289 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of BRC by 158.5% in the second quarter. Rhumbline Advisers now owns 178,510 shares of the company’s stock valued at $234,000 after acquiring an additional 109,444 shares in the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.

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.