DA Davidson reaffirmed their buy rating on shares of BRC (NYSE:BRCC – Free Report) in a research report released on Wednesday morning,Benzinga reports. DA Davidson currently has a $2.50 target price on the stock.
Several other equities research analysts have also recently weighed in on the company. Wall Street Zen raised BRC from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Craig Hallum started coverage on BRC in a research note on Monday, August 3rd. They set a “buy” rating and a $1.75 price target on the stock. Finally, Weiss Ratings raised shares of BRC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2.25.
Read Our Latest Research Report on BRCC
BRC Trading Up 4.5%
Insider Buying and Selling at BRC
In related news, insider Evan Hafer sold 2,000,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.49, for a total transaction of $2,980,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 54.87% of the stock is currently owned by corporate insiders.
Institutional Trading of BRC
A number of institutional investors have recently bought and sold shares of the company. Zazove Associates LLC increased its holdings in 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. Prescott Group Capital Management L.L.C. acquired a new stake in BRC in the fourth quarter worth $325,000. Kestra Private Wealth Services LLC bought a new stake in shares of BRC during the fourth quarter worth about $26,000. JPMorgan Chase & Co. grew its position in shares of BRC by 30.5% during the 3rd 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 during the period. Finally, Tudor Investment Corp ET AL grew its position in shares of BRC by 23.7% in the third quarter. Tudor Investment Corp ET AL now owns 346,023 shares of the company’s stock valued at $540,000 after purchasing an additional 66,211 shares in the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.
About BRC
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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