DA Davidson Issues Pessimistic Forecast for BRC (NYSE:BRCC) Stock Price

BRC (NYSE:BRCC - Free Report) had its target price cut by DA Davidson from $5.00 to $3.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

BRCC has been the topic of several other research reports. Roth Mkm reaffirmed a "neutral" rating and set a $2.50 price target (down previously from $3.50) on shares of BRC in a research report on Wednesday. Telsey Advisory Group restated an "outperform" rating and set a $6.00 price target on shares of BRC in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, BRC has an average rating of "Moderate Buy" and a consensus price target of $5.63.

BRC Stock Performance

BRCC traded up $0.02 during trading on Wednesday, hitting $2.14. 561,089 shares of the stock were exchanged, compared to its average volume of 878,210. The firm has a market capitalization of $454.21 million, a P/E ratio of -26.69 and a beta of 1.09. BRC has a 1-year low of $2.01 and a 1-year high of $7.14. The stock has a fifty day moving average price of $2.75 and a two-hundred day moving average price of $3.14. The company has a quick ratio of 0.58, a current ratio of 1.14 and a debt-to-equity ratio of 0.92.

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Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BRCC. Millennium Management LLC raised its position in BRC by 1,018.3% in the fourth quarter. Millennium Management LLC now owns 1,798,148 shares of the company's stock worth $5,700,000 after acquiring an additional 1,637,357 shares in the last quarter. Engaged Capital LLC grew its holdings in BRC by 5.3% in the third quarter. Engaged Capital LLC now owns 13,535,560 shares of the company's stock valued at $46,292,000 after purchasing an additional 684,542 shares during the last quarter. QVIDTVM Management LLC grew its holdings in BRC by 24.2% in the third quarter. QVIDTVM Management LLC now owns 3,219,929 shares of the company's stock valued at $11,012,000 after purchasing an additional 627,653 shares during the last quarter. Verition Fund Management LLC grew its holdings in BRC by 4,294.3% in the third quarter. Verition Fund Management LLC now owns 497,211 shares of the company's stock valued at $1,700,000 after purchasing an additional 485,896 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in BRC by 697.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 445,764 shares of the company's stock valued at $1,413,000 after purchasing an additional 389,833 shares during the last quarter. 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.