BRC (NYSE:BRCC) Announces Earnings Results, Beats Expectations By $0.01 EPS

BRC (NYSE:BRCC) released its quarterly earnings data on Monday. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.01, reports. The company had revenue of $109.23 million during the quarter, compared to the consensus estimate of $96.95 million. BRC had a negative net margin of 2.99% and a negative return on equity of 21.46%.

BRC Stock Performance

BRCC traded up $0.54 during trading on Tuesday, hitting $1.63. The stock had a trading volume of 2,148,061 shares, compared to its average volume of 908,989. The firm has a market capitalization of $404.39 million, a P/E ratio of -11.61 and a beta of 1.03. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.67 and a current ratio of 1.32. BRC has a twelve month low of $0.60 and a twelve month high of $2.10. The company’s 50-day moving average price is $0.85 and its 200 day moving average price is $1.02.

Analyst Ratings Changes

BRCC has been the subject of several research reports. DA Davidson set a $2.50 target price on BRC in a report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of BRC in a research note on Monday, April 20th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $2.50 target price on shares of BRC in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.33.

Insider Activity at BRC

In other news, Director Steven Taslitz bought 150,000 shares of the stock in a transaction dated Thursday, March 5th. The shares were acquired at an average price of $0.75 per share, with a total value of $112,500.00. Following the completion of the acquisition, the director directly owned 601,184 shares in the company, valued at approximately $450,888. The trade was a 33.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 54.87% of the company’s stock.

Hedge Funds Weigh In On BRC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC purchased a new position in shares of BRC during the 4th quarter worth approximately $146,000. Wells Fargo & Company MN lifted its holdings in BRC by 50.8% in the 4th quarter. Wells Fargo & Company MN now owns 104,648 shares of the company’s stock valued at $116,000 after purchasing an additional 35,261 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of BRC by 9,057.7% in the 4th quarter. Deutsche Bank AG now owns 72,254 shares of the company’s stock valued at $80,000 after purchasing an additional 71,465 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of BRC by 48.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,925 shares of the company’s stock worth $70,000 after buying an additional 14,588 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in BRC by 139.5% during the fourth quarter. Corient Private Wealth LLC now owns 59,064 shares of the company’s stock valued at $66,000 after acquiring an additional 34,400 shares during the period. Institutional investors and hedge funds own 16.29% of the company’s stock.

BRC Company Profile

Black Rifle Coffee Company, Inc is a veteran-owned specialty coffee roaster and retailer that offers a range of coffee products, merchandise and subscription services. The company sources, roasts and distributes its own blends and single-origin coffees, as well as ready-to-drink beverages and branded apparel. Its product lineup includes whole-bean and ground coffees, cold brew concentrates, K-cup pods and limited-edition small-batch offerings designed to appeal to active lifestyle and patriotic consumers.

Founded in 2014 by U.S.