BRC (NYSE:BRCC) Shares Gap Up to $4.26

BRC Inc. (NYSE:BRCC)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $4.26, but opened at $4.79. BRC shares last traded at $4.89, with a volume of 512,821 shares.

Analysts Set New Price Targets

Separately, Telsey Advisory Group restated an “outperform” rating and issued a $8.00 target price on shares of BRC in a research note on Monday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, BRC currently has an average rating of “Moderate Buy” and an average price target of $7.92.

BRC Stock Up 27.9 %

The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -18.52 and a beta of 1.01. The firm has a fifty day moving average price of $4.33 and a 200 day moving average price of $3.98. The company has a current ratio of 1.28, a quick ratio of 0.61 and a debt-to-equity ratio of 1.48.

BRC (NYSE:BRCC) last posted its quarterly earnings data on Wednesday, March 6th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. The company had revenue of $119.65 million for the quarter, compared to analyst estimates of $124.38 million. BRC had a positive return on equity of 4.11% and a negative net margin of 4.23%. Sell-side analysts anticipate that BRC Inc. will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On BRC

A number of large investors have recently modified their holdings of BRCC. Alhambra Investment Management LLC raised its position in BRC by 21.8% in the 4th quarter. Alhambra Investment Management LLC now owns 16,750 shares of the company’s stock worth $61,000 after purchasing an additional 3,000 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of BRC by 106.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,415 shares of the company’s stock valued at $27,000 after acquiring an additional 3,831 shares during the period. Allworth Financial LP increased its position in BRC by 83.6% in the fourth quarter. Allworth Financial LP now owns 9,776 shares of the company’s stock worth $35,000 after purchasing an additional 4,450 shares during the period. Raymond James & Associates raised its holdings in BRC by 27.3% during the 3rd quarter. Raymond James & Associates now owns 21,921 shares of the company’s stock worth $79,000 after purchasing an additional 4,697 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in BRC by 23.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 30,000 shares of the company’s stock valued at $109,000 after purchasing an additional 5,700 shares during the period. 16.29% of the stock is currently owned by institutional investors and hedge funds.

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.