Black Rock Coffee Bar (NASDAQ:BRCB) Shares Climb 5.4% – Time to Buy?

Black Rock Coffee Bar, Inc. (NASDAQ:BRCB) was up 5.4% during mid-day trading on Friday. The stock traded as high as $10.10 and last traded at $10.16. 55,448 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 505,284 shares. The stock had previously closed at $9.64.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BRCB. Zacks Research lowered Black Rock Coffee Bar from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. Stifel Nicolaus initiated coverage on Black Rock Coffee Bar in a research report on Monday. They issued a “hold” rating and a $12.00 target price on the stock. Robert W. Baird increased their target price on Black Rock Coffee Bar from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday. Raymond James Financial set a $13.00 target price on Black Rock Coffee Bar in a research note on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Black Rock Coffee Bar from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, October 2nd. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Black Rock Coffee Bar presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Black Rock Coffee Bar Stock Up 6.4%

The company has a current ratio of 0.71, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. The stock has a 50-day simple moving average of $8.52 and a 200-day simple moving average of $10.28. The company has a market cap of $513.47 million, a price-to-earnings ratio of 60.69 and a beta of -0.92.

Black Rock Coffee Bar (NASDAQ:BRCB) last released its quarterly earnings results on Tuesday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The business had revenue of $66.75 million during the quarter. Black Rock Coffee Bar had a return on equity of 3.53% and a net margin of 1.58%. As a group, analysts predict that Black Rock Coffee Bar, Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Black Rock Coffee Bar

Several institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in Black Rock Coffee Bar by 50.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,161,703 shares of the company’s stock valued at $15,009,000 after buying an additional 387,553 shares during the period. Renaissance Technologies LLC raised its position in shares of Black Rock Coffee Bar by 179.4% during the 1st quarter. Renaissance Technologies LLC now owns 207,600 shares of the company’s stock worth $2,682,000 after buying an additional 133,296 shares in the last quarter. Jennison Associates LLC raised its position in shares of Black Rock Coffee Bar by 59.9% during the 1st quarter. Jennison Associates LLC now owns 583,806 shares of the company’s stock worth $7,543,000 after buying an additional 218,692 shares in the last quarter. Sei Investments Co. raised its position in shares of Black Rock Coffee Bar by 58.2% during the 1st quarter. Sei Investments Co. now owns 62,607 shares of the company’s stock worth $809,000 after buying an additional 23,040 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Black Rock Coffee Bar by 1.9% in the 1st quarter. Bank of America Corp DE now owns 143,896 shares of the company’s stock worth $1,859,000 after acquiring an additional 2,631 shares during the period.

About Black Rock Coffee Bar

Black Rock Coffee Bar is a specialty coffee company that operates cafés focused on handcrafted beverages and customer service. The company was founded in 2008 in Beaverton, Oregon. Its menu includes coffee and espresso drinks, teas, blended beverages, energy drinks and food items. Many locations offer drive-through service, alongside in-store ordering. Black Rock Coffee Bar serves customers across several western and southwestern U.S. states, including Oregon, Arizona, Washington, Colorado and Texas.