Key Points
- BRC insider Evan Hafer sold 15,304 shares at an average price of $10.62, generating approximately $162,528. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- BRCC shares opened at $10.53 and remain below their 200-day moving average of $10.94, with a 52-week trading range of $6.00 to $18.55.
- Analysts maintain a generally positive outlook, with three Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $22.50.
BRC Inc. (NYSE:BRCC - Get Free Report) insider Evan Hafer sold 15,304 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $10.62, for a total transaction of $162,528.48. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 13th, Evan Hafer sold 200 shares of BRC stock. The stock was sold at an average price of $10.51, for a total transaction of $2,102.00.
BRC Trading Up 0.5%
Shares of BRCC opened at $10.53 on Friday. 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 Inc. has a fifty-two week low of $6.00 and a fifty-two week high of $18.55. The firm has a 50-day simple moving average of $9.00 and a 200-day simple moving average of $10.94.
Institutional Trading of BRC
Several hedge funds have recently modified their holdings of the business. Zazove Associates LLC boosted its position in shares of BRC by 270.7% during the 1st quarter. Zazove Associates LLC now owns 2,000,000 shares of the company's stock worth $1,552,000 after purchasing an additional 1,460,546 shares in the last quarter. Renaissance Technologies LLC purchased a new position in BRC in the first quarter valued at about $232,000. Modera Wealth Management LLC purchased a new position in BRC in the first quarter valued at about $78,000. Kestra Advisory Services LLC lifted its position in shares of BRC by 63.0% during the 1st 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 period. Finally, Squarepoint Ops LLC lifted its position in shares of BRC by 53.8% during the 2nd quarter. Squarepoint Ops LLC now owns 72,944 shares of the company's stock valued at $81,000 after acquiring an additional 25,519 shares during the period. 16.29% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have commented on BRCC. Craig Hallum initiated coverage on BRC in a research note on Monday, August 3rd. They set a "buy" rating and a $17.50 price objective for the company. DA Davidson increased their price target on BRC from $2.50 to $25.00 and gave the stock a "buy" rating in a report on Monday, August 31st. Finally, Weiss Ratings downgraded shares of BRC from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BRC presently has an average rating of "Moderate Buy" and a consensus price target of $22.50.
Read Our Latest Stock Analysis on BRCC
About BRC
(
Get Free Report)
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.
Further Reading
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