BRC (NYSE:BRCC) Sees Unusually-High Trading Volume - Here's What Happened

BRC Inc. (NYSE:BRCC - Get Free Report) saw an uptick in trading volume on Wednesday . 696,539 shares changed hands during mid-day trading, a decline of 6% from the previous session's volume of 737,191 shares.The stock last traded at $3.16 and had previously closed at $2.95.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. DA Davidson reaffirmed a "buy" rating and set a $5.50 price objective on shares of BRC in a research note on Wednesday, September 18th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $6.00 price objective on shares of BRC in a report on Thursday, October 31st. Finally, Roth Mkm reiterated a "neutral" rating and issued a $3.50 price objective (down previously from $4.00) on shares of BRC in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $6.50.

BRC Stock Up 6.4 %

The stock has a market cap of $668.01 million, a price-to-earnings ratio of -39.25 and a beta of 1.12. The business's 50 day moving average is $3.04 and its 200-day moving average is $3.81. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.58 and a current ratio of 1.14.

BRC (NYSE:BRCC - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. BRC had a negative net margin of 1.22% and a positive return on equity of 23.35%. The business had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.06 million. During the same period last year, the firm posted ($0.05) earnings per share. On average, sell-side analysts predict that BRC Inc. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On BRC

Several hedge funds and other institutional investors have recently made changes to their positions in BRCC. Smith Thornton Advisors LLC increased its position in shares of BRC by 41.7% during the fourth quarter. Smith Thornton Advisors LLC now owns 18,521 shares of the company's stock worth $59,000 after purchasing an additional 5,446 shares in the last quarter. Barclays PLC grew its holdings in shares of BRC by 325.9% during the third quarter. Barclays PLC now owns 74,967 shares of the company's stock worth $257,000 after buying an additional 57,366 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of BRC by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,073,638 shares of the company's stock worth $3,673,000 after buying an additional 10,100 shares in the last quarter. State Street Corp raised its position in shares of BRC by 3.2% in the third quarter. State Street Corp now owns 955,717 shares of the company's stock valued at $3,269,000 after buying an additional 29,596 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of BRC in the third quarter worth about $75,000. Hedge funds and other institutional investors own 16.29% of the company's stock.

About BRC

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.