BRC (NYSE:BRCC) Shares Gap Up – Here’s What Happened

BRC Inc. (NYSE:BRCC)’s share price gapped up before the market opened on Monday . The stock had previously closed at $8.7990, but opened at $9.20. BRC shares last traded at $9.13, with a volume of 45,570 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings lowered shares of BRC from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 4th. Wall Street Zen upgraded BRC from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Craig Hallum initiated coverage on BRC in a research report on Monday, August 3rd. They set a “buy” rating and a $17.50 target price on the stock. Finally, DA Davidson reiterated a “buy” rating and issued a $25.00 price target on shares of BRC in a research note on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, BRC has an average rating of “Moderate Buy” and an average target price of $22.50.

BRC Stock Performance

The company’s fifty day simple moving average is $11.01 and its two-hundred day simple moving average is $10.57. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -348.43 and a beta of 1.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.80 and a current ratio of 1.42.

Insider Activity

In related news, insider Evan Hafer sold 200,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $14.90, for a total value of $2,980,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen M. Kadenacy sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $8.20, for a total value of $86,100.00. Following the sale, the director owned 23,495 shares in the company, valued at $192,659. The trade was a 30.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 54.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of BRC by 342.1% during the 1st quarter. AQR Capital Management LLC now owns 56,861 shares of the company’s stock valued at $119,000 after acquiring an additional 43,998 shares in the last quarter. Millennium Management LLC boosted its holdings in BRC by 4.1% in the first quarter. Millennium Management LLC now owns 1,871,110 shares of the company’s stock worth $3,911,000 after purchasing an additional 72,962 shares during the period. Goldman Sachs Group Inc. increased its stake in BRC by 204.5% during the first quarter. Goldman Sachs Group Inc. now owns 651,251 shares of the company’s stock valued at $1,361,000 after purchasing an additional 437,359 shares during the last quarter. Geode Capital Management LLC increased its stake in BRC by 10.0% during the second quarter. Geode Capital Management LLC now owns 1,270,764 shares of the company’s stock valued at $1,665,000 after purchasing an additional 115,289 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of BRC by 158.5% during the second quarter. Rhumbline Advisers now owns 178,510 shares of the company’s stock worth $234,000 after purchasing an additional 109,444 shares during the period. Institutional investors and hedge funds own 16.29% of the company’s stock.

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.