Black Rock Coffee Bar (NASDAQ:BRCB) Shares Gap Down – Here’s Why

Black Rock Coffee Bar, Inc. (NASDAQ:BRCB)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $24.35, but opened at $23.10. Black Rock Coffee Bar shares last traded at $23.91, with a volume of 186,836 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BRCB shares. Raymond James Financial restated an “outperform” rating and set a $28.00 target price (up from $26.00) on shares of Black Rock Coffee Bar in a research note on Thursday, October 16th. Zacks Research upgraded Black Rock Coffee Bar to a “hold” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.00.

Black Rock Coffee Bar Trading Down 4.9%

Black Rock Coffee Bar (NASDAQ:BRCB) last released its quarterly earnings data on Tuesday, November 11th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.19. The business had revenue of $51.47 million during the quarter, compared to analyst estimates of $51.03 million. Black Rock Coffee Bar has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRCB. US Bancorp DE acquired a new position in shares of Black Rock Coffee Bar during the third quarter valued at $89,000. CenterStar Asset Management LLC bought a new stake in Black Rock Coffee Bar in the 3rd quarter valued at about $209,000. TD Asset Management Inc bought a new stake in Black Rock Coffee Bar in the 3rd quarter valued at about $553,000. JPMorgan Chase & Co. acquired a new position in Black Rock Coffee Bar during the 3rd quarter valued at about $737,000. Finally, Vanguard Group Inc. bought a new position in Black Rock Coffee Bar in the 3rd quarter worth about $2,028,000.

Black Rock Coffee Bar Company Profile

Our Mission: To Fuel People Forward – One Connection, One Moment, One Cup at a Time We are a high-growth operator of guest-centric, drive-thru coffee bars offering premium caffeinated beverages and an elevated in-store experience crafted by our engaging baristas. Black Rock Coffee Bar was founded in 2008 in Beaverton, Oregon, by our co-founders Daniel Brand and Jeff Hernandez.