BRC Shares Scheduled to Reverse Split on Monday, August 24th (NYSE:BRCC)

Shares of BRC Inc. (NYSE:BRCC) are going to reverse split before the market opens on Monday, August 24th. The 1-10 reverse split was announced on Monday, August 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, August 21st.

BRC Trading Down 1.9%

Shares of BRCC stock opened at $0.85 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.40. BRC has a 12-month low of $0.60 and a 12-month high of $1.85. The stock has a market capitalization of $212.25 million, a P/E ratio of -28.27 and a beta of 1.25. The firm’s 50 day moving average is $1.18 and its 200 day moving average is $1.06.

Analyst Ratings Changes

A number of analysts recently commented on BRCC shares. Wall Street Zen upgraded BRC from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. DA Davidson reissued a “buy” rating and issued a $2.50 target price on shares of BRC in a research report on Wednesday, August 5th. Weiss Ratings downgraded BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 4th. Finally, Craig Hallum started coverage on shares of BRC in a research report on Monday, August 3rd. They set a “buy” rating and a $1.75 price target for the company. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2.25.

Insider Buying and Selling at BRC

In other news, insider Evan Hafer sold 2,000,000 shares of BRC stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1.49, for a total transaction of $2,980,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 54.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BRC

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Private Wealth Services LLC purchased a new position in BRC during the fourth quarter valued at $26,000. Engineers Gate Manager LP purchased a new stake in BRC in the second quarter worth about $27,000. Invesco Ltd. raised its stake in shares of BRC by 96.1% in the fourth quarter. Invesco Ltd. now owns 30,140 shares of the company’s stock worth $33,000 after buying an additional 14,769 shares during the period. Virtu Financial LLC raised its stake in shares of BRC by 82.2% in the third quarter. Virtu Financial LLC now owns 21,037 shares of the company’s stock worth $33,000 after buying an additional 9,492 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of BRC by 312.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,016 shares of the company’s stock valued at $42,000 after buying an additional 20,469 shares in the last quarter. 16.29% of the stock is currently owned by hedge funds and other institutional investors.

About BRC

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.