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BRC Inc (NYSE: BRCC) Continues To Point Downwards

BRC Inc (NYSE:BRCC) price closed higher on Friday, November 17, jumping 9.07% above its previous close.

A look at the daily price movement shows that the last close reads $3.75, with intraday deals fluctuated between $3.75 and $4.13. The company’s 5Y monthly beta was ticking 0.58. Taking into account the 52-week price action we note that the stock hit a 52-week high of $8.27 and 52-week low of $2.51. The stock added 51.48% on its value in the past month.

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BRC Inc, which has a market valuation of $250.64 million, is expected to release its quarterly earnings report Nov 09, 2023. Analysts tracking BRCC have forecast the quarterly EPS to shrink by -0.02 per share this quarter, while the same analysts predict the annual EPS to hit -$0.21 for the year 2023 and up to $0.2 for 2024. In this case, analysts estimate an annual EPS growth of -108.50% for the year and 195.20% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $124.53 million, with the likely lows of $123.8 million and highs of $125.25 million. The average estimate suggests sales growth for the quarter will likely rise by 33.00% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $400.44 million for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow 32.90% above that which the company brought in 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give BRCC a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 50% Sell.

Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 8 analysts have assigned BRCC a recommendation rating as follows: 4 rate it as a Hold; 4 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the BRC Inc (BRCC) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Overweight, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

The overview shows that BRCC’s price is at present 37.20% off the SMA20 and 24.05% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 73.94, with weekly volatility standing at 8.25%. The indicator jumps to 7.55% when calculated based on the past 30 days. BRC Inc (NYSE:BRCC)’s beta value is holding at 0.82, while the average true range (ATR) indicator is currently reading 0.25. Considering analysts have assigned the stock a price target range of $3.50-$8.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $5.50. Based on this estimate, we see that current price is roughly 14.43% off the estimated low and -95.6% off the forecast high. Investors will no doubt be excited to see the share price fall to $6.00, which is the median consensus price, and at that level BRCC would be -46.7% from current price.

An analysis of the BRC Inc (NYSE:BRCC) stock in terms of its daily trading volume indicates that the 3-month average is 524.55K. However, this figure increases on the past 10-day timeline to an average of 0.65 million.

Current records show that the company has 61.28M in outstanding shares. The insiders’ percentage holdings are 0.86% of outstanding shares while the percentage share held by institutions stands at 54.92%. The stats also highlight that short interest as of Oct 30, 2023, stood at 7.51 million shares, which puts the short ratio at the time at 13.62. From this we can glean that short interest is 12.25% of company’s current outstanding shares. Notably, we see that shares short in October fall slightly given the previous month’s figure stood at 7.6 million. But the -33.06% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.