BRC (NYSE:BRCC) Stock: Insider Evan Hafer Sells 2,724 Shares

BRC Inc. (NYSE:BRCC) insider Evan Hafer sold 2,724 shares of the stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $10.56, for a total value of $28,765.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Evan Hafer also recently made the following trade(s):

• On Tuesday, October 20th, Evan Hafer sold 5,572 shares of BRC stock. The stock was sold at an average price of $10.59, for a total value of $59,007.48.
• On Thursday, October 15th, Evan Hafer sold 15,304 shares of BRC stock. The stock was sold at an average price of $10.62, for a total value of $162,528.48.
• On Tuesday, October 13th, Evan Hafer sold 200 shares of BRC stock. The stock was sold at an average price of $10.51, for a total value of $2,102.00.

BRC Stock Performance

Shares of BRCC stock opened at $10.53 on Thursday. The stock’s fifty day simple moving average is $9.10 and its 200 day simple moving average is $11.01. BRC Inc. has a one year low of $6.00 and a one year high of $18.55. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.40.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BRCC. Weiss Ratings lowered BRC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 4th. Craig Hallum began coverage on shares of BRC in a research note on Monday, August 3rd. They set a “buy” rating and a $17.50 price target on the stock. Finally, DA Davidson raised their price target on shares of BRC from $2.50 to $25.00 and gave the company a “buy” rating in a report on Monday, August 31st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Institutional Investors Weigh In On BRC

A number of institutional investors and hedge funds have recently made changes to their positions in BRCC. Engineers Gate Manager LP lifted its stake in shares of BRC by 83.2% during the second quarter. Engineers Gate Manager LP now owns 24,326 shares of the company’s stock valued at $27,000 after acquiring an additional 11,048 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in BRC by 67.1% in the first quarter. Kestra Private Wealth Services LLC now owns 38,600 shares of the company’s stock valued at $30,000 after acquiring an additional 15,500 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in BRC by 63.0% in the first quarter. Kestra Advisory Services LLC now owns 69,001 shares of the company’s stock valued at $54,000 after acquiring an additional 26,672 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in BRC in the first quarter worth about $78,000. Finally, Squarepoint Ops LLC increased its position in BRC by 53.8% in the second quarter. Squarepoint Ops LLC now owns 72,944 shares of the company’s stock worth $81,000 after purchasing an additional 25,519 shares during the period. Institutional investors own 16.29% of the company’s stock.

BRC Company Profile

Black Rifle Coffee Company (NYSE: BRCC) is a veteran-founded coffee and lifestyle company focused on producing, marketing and selling premium coffee and related products. Its offerings include whole-bean and ground coffee, single-serve options, ready-to-drink beverages and other packaged drinks.

The company sells its products through its e-commerce platform, subscription-based Coffee Club, wholesale and retail partners, and its own coffee shop locations. It also offers branded apparel, merchandise and gear, supported by media and content aimed at military, veteran, first-responder and outdoor communities.