Black Rock Coffee Bar, Inc.’s (NASDAQ:BRCB) Quiet Period Will End Tomorrow

Black Rock Coffee Bar’s (NASDAQ:BRCB) quiet period is set to end on Wednesday, October 22nd. Black Rock Coffee Bar had issued 14,705,882 shares in its public offering on September 12th. The total size of the offering was $294,117,640 based on an initial share price of $20.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

A number of analysts recently issued reports on BRCB shares. Zacks Research raised Black Rock Coffee Bar to a “hold” rating in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $28.00 target price (up from $26.00) on shares of Black Rock Coffee Bar in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Black Rock Coffee Bar Price Performance

Black Rock Coffee Bar stock opened at $25.01 on Tuesday. Black Rock Coffee Bar has a 1-year low of $20.39 and a 1-year high of $30.40.

Institutional Trading of Black Rock Coffee Bar

An institutional investor recently bought a new position in Black Rock Coffee Bar stock. CenterStar Asset Management LLC purchased a new position in shares of Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,750 shares of the company’s stock, valued at approximately $209,000.

Black Rock Coffee Bar Company Profile

Our Mission: To Fuel People Forward – One Connection, One Moment, One Cup at a Time We are a high-growth operator of guest-centric, drive-thru coffee bars offering premium caffeinated beverages and an elevated in-store experience crafted by our engaging baristas. Black Rock Coffee Bar was founded in 2008 in Beaverton, Oregon, by our co-founders Daniel Brand and Jeff Hernandez.