BRC Inc. (NYSE:BRCC - Get Free Report) Director Stephen Kadenacy sold 105,000 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $0.82, for a total transaction of $86,100.00. Following the sale, the director owned 234,953 shares in the company, valued at $192,661.46. This represents a 30.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
BRC Stock Up 0.9%
Shares of NYSE:BRCC opened at $0.82 on Wednesday. The company has a market cap of $205.99 million, a price-to-earnings ratio of -27.43 and a beta of 1.25. BRC Inc. has a 12 month low of $0.60 and a 12 month high of $1.85. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $1.13 and a 200 day moving average price of $1.06.
BRC's stock is scheduled 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.
Wall Street Analyst Weigh In
BRCC has been the subject of a number of recent research reports. DA Davidson reiterated a "buy" rating and issued a $2.50 target price on shares of BRC in a report on Wednesday, August 5th. Weiss Ratings lowered 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 report on Saturday, May 23rd. Finally, Craig Hallum started coverage on shares of BRC in a research note on Monday, August 3rd. They set a "buy" rating and a $1.75 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $2.25.
View Our Latest Report on BRC
Institutional Investors Weigh In On BRC
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zazove Associates LLC lifted its stake in BRC by 270.7% in the 1st quarter. Zazove Associates LLC now owns 2,000,000 shares of the company's stock valued at $1,552,000 after buying an additional 1,460,546 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in BRC during the 4th quarter worth approximately $325,000. Kestra Private Wealth Services LLC purchased a new position in shares of BRC in the fourth quarter valued at approximately $26,000. JPMorgan Chase & Co. lifted its position in shares of BRC by 30.5% in the third quarter. JPMorgan Chase & Co. now owns 38,955 shares of the company's stock valued at $61,000 after acquiring an additional 9,102 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of BRC by 9.2% in the first quarter. Bank of America Corp DE now owns 142,209 shares of the company's stock worth $110,000 after acquiring an additional 11,933 shares during the last quarter. Hedge funds and other institutional investors own 16.29% of the company's stock.
BRC Company Profile
(
Get Free Report)
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.
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