BRC Inc. (NYSE:BRCC) Director Evan Hafer Sells 1,000,000 Shares

BRC Inc. (NYSE:BRCC) Director Evan Hafer sold 1,000,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $3.17, for a total transaction of $3,170,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Evan Hafer also recently made the following trade(s):

• On Wednesday, September 11th, Evan Hafer sold 3,000,000 shares of BRC stock. The stock was sold at an average price of $3.20, for a total transaction of $9,600,000.00.

BRC Price Performance

Shares of BRC stock opened at $3.27 on Tuesday. The stock has a market capitalization of $694.94 million, a price-to-earnings ratio of -18.17 and a beta of 1.18. The company has a fifty day moving average of $4.66 and a 200-day moving average of $4.94. BRC Inc. has a 52-week low of $2.51 and a 52-week high of $7.14. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 1.07.

BRC (NYSE:BRCC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $89.02 million during the quarter, compared to analyst estimates of $101.54 million. BRC had a negative net margin of 1.88% and a positive return on equity of 17.53%. During the same period in the prior year, the business posted ($0.03) earnings per share. Equities research analysts expect that BRC Inc. will post -0.02 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on BRCC. DA Davidson restated a “buy” rating and set a $5.50 price target on shares of BRC in a research report on Friday, September 6th. Roth Mkm cut shares of BRC from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $8.00 to $4.00 in a research report on Friday, August 9th. Telsey Advisory Group dropped their price objective on shares of BRC from $8.00 to $6.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Tigress Financial reissued a “buy” rating and issued a $11.00 target price on shares of BRC in a research note on Wednesday, May 22nd. Finally, Roth Capital lowered BRC from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.63.

Institutional Investors Weigh In On BRC

Several institutional investors have recently added to or reduced their stakes in BRCC. nVerses Capital LLC purchased a new position in BRC during the 2nd quarter valued at about $28,000. Comerica Bank grew its position in shares of BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after buying an additional 4,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of BRC during the first quarter valued at approximately $45,000. Intrinsic Edge Capital Management LLC purchased a new stake in BRC in the fourth quarter worth $50,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in BRC in the fourth quarter valued at $72,000. Hedge funds and other institutional investors 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.