- BRCC has given credit to its ready-to-drink coffee range as fueling 26% year-on-year revenue growth
- BRCC Stock price has fallen 24% from 1st October. The asset is currently trading near the value of $6.2.
Black Rifle Coffee Company has recently released $0.08 EPS for the recent quarter, beating analyst expectations. BRCC has also reported a revenue of 75.4 Million dollars in this quarter. Direct to consumer brand of BRCC has also observed growth of 2%. They have also been working to support Veterans, active military participants and more. The company’s gross Profit has also declined year-over-year to $23.9 million, representing a 32% gross margin.
BRCC has a market cap of $338.2 Million and has seen an average volume of 522,126. It traded in a range between $6.13-$6.25.The Gross Profit of the company has seen an increase of 14%. Analysts are placing a mixed bet on the stock price.
Bulls Of BRCC Are Not Looking, Happy
The weekly technical chart of the stock price suggests a strong downside trend. On coming to the daily chart, the asset price is looking to recover from its $52 Week Low. The asset price is currently trading below the 50 and 100 Daily Moving Averages. If it sees a crossover, then a new high can be seen. Resistance of the asset price can be seen near $8. Meanwhile, support can be observed near $5.5.
RSI: RSI of the asset price is placed near 36 with a small positive slope. The overall sentiment of the RSI is bullish.
Conclusion
BRCC has reported strong financials in this quarter. The asset price is currently seeing a downside trend but can move to the upside.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/11/18/is-brcc-stock-price-looking-for-a-new-low/