Short Interest in BRC Inc. (NYSE:BRCC) Expands By 9.1%

BRC Inc. (NYSE:BRCC) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 9,020,000 shares, an increase of 9.1% from the June 30th total of 8,270,000 shares. Currently, 14.1% of the company’s shares are sold short. Based on an average daily volume of 956,800 shares, the days-to-cover ratio is presently 9.4 days.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of BRC in a research note on Thursday, May 16th. Tigress Financial reissued a “buy” rating and issued a $11.00 target price on shares of BRC in a research report on Wednesday, May 22nd. Telsey Advisory Group reissued an “outperform” rating and set a $8.00 price target on shares of BRC in a research report on Wednesday, July 10th. Finally, Roth Mkm reiterated a “buy” rating and set a $7.00 price objective (up previously from $6.00) on shares of BRC in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BRC presently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Hedge Funds Weigh In On BRC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank increased its holdings in BRC by 316.4% in the 1st quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after buying an additional 4,600 shares during the period. Tower Research Capital LLC TRC raised its holdings in BRC by 106.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,415 shares of the company’s stock valued at $27,000 after acquiring an additional 3,831 shares during the last quarter. Allworth Financial LP lifted its position in BRC by 83.6% during the fourth quarter. Allworth Financial LP now owns 9,776 shares of the company’s stock worth $35,000 after buying an additional 4,450 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of BRC during the 4th quarter worth $37,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in BRC in the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 16.29% of the company’s stock.

BRC Trading Down 0.9 %

Shares of BRCC traded down $0.05 during mid-day trading on Tuesday, hitting $5.48. 157,559 shares of the stock were exchanged, compared to its average volume of 821,527. BRC has a 52-week low of $2.51 and a 52-week high of $7.14. The company has a quick ratio of 0.51, a current ratio of 1.07 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average of $5.95 and a two-hundred day moving average of $4.88.

BRC (NYSE:BRCC) last announced its earnings results on Wednesday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.04. The business had revenue of $98.39 million during the quarter, compared to analyst estimates of $97.78 million. BRC had a positive return on equity of 14.15% and a negative net margin of 2.78%. Analysts forecast that BRC will post 0.03 EPS for the current fiscal year.

BRC Company Profile

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.