Black Rock Coffee Bar (NASDAQ:BRCB) Stock Breaks Below 200 Day Moving Average – Here’s Why

Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) shares passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $10.56 and traded as low as $9.78. Black Rock Coffee Bar shares last traded at $9.88, with a volume of 450,379 shares traded.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Zacks Research cut Black Rock Coffee Bar from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. Weiss Ratings upgraded Black Rock Coffee Bar from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. Morgan Stanley downgraded Black Rock Coffee Bar from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $22.00 to $9.00 in a research note on Wednesday, July 15th. Robert W. Baird lowered Black Rock Coffee Bar from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $12.00 to $10.00 in a research report on Monday, August 24th. Finally, Raymond James Financial set a $13.00 price target on shares of Black Rock Coffee Bar in a report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.50.

Black Rock Coffee Bar Price Performance

The company has a market capitalization of $494.69 million, a P/E ratio of 141.16 and a beta of -0.92. The business’s 50-day simple moving average is $8.37 and its 200 day simple moving average is $10.56. The company has a current ratio of 0.71, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27.

Black Rock Coffee Bar (NASDAQ:BRCB) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Black Rock Coffee Bar had a return on equity of 1.46% and a net margin of 0.69%. The firm had revenue of $63.00 million during the quarter. As a group, sell-side analysts anticipate that Black Rock Coffee Bar, Inc. will post 0.20 EPS for the current year.

Hedge Funds Weigh In On Black Rock Coffee Bar

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in Black Rock Coffee Bar by 106.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,219 shares of the company’s stock worth $106,000 after buying an additional 4,243 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in Black Rock Coffee Bar during the second quarter valued at about $166,000. Alkeme Wealth LLC acquired a new position in shares of Black Rock Coffee Bar in the third quarter worth about $214,000. Engineers Gate Manager LP boosted its holdings in shares of Black Rock Coffee Bar by 172.0% in the second quarter. Engineers Gate Manager LP now owns 59,909 shares of the company’s stock worth $497,000 after buying an additional 37,880 shares during the period. Finally, Sei Investments Co. increased its position in shares of Black Rock Coffee Bar by 58.2% in the first quarter. Sei Investments Co. now owns 62,607 shares of the company’s stock worth $809,000 after acquiring an additional 23,040 shares in the last quarter.

Black Rock Coffee Bar Company Profile

Black Rock Coffee Bar is a specialty coffee company that operates a network of primarily drive-thru coffee shops in the United States. Founded in 2008 and headquartered in Portland, Oregon, the company focuses on convenient service, beverage customization and a digitally connected customer experience.

Its menu includes brewed coffee, espresso-based beverages, cold and iced drinks, teas, smoothies and energy drinks, along with a selection of food and snack items. Black Rock also offers branded merchandise and customer loyalty services through its digital platforms.

The company serves customers through locations across several U.S.