Dutch Bros Inc. (NYSE:BROS) Short Interest Up 34.2% in March

Dutch Bros Inc. (NYSE:BROS) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 6,980,000 shares, a growth of 34.2% from the February 28th total of 5,200,000 shares. Based on an average daily trading volume, of 3,040,000 shares, the days-to-cover ratio is presently 2.3 days. Currently, 6.5% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BROS. JPMorgan Chase & Co. increased their price objective on shares of Dutch Bros from $58.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Bank of America raised their price target on Dutch Bros from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. William Blair reiterated an “outperform” rating on shares of Dutch Bros in a research report on Tuesday, December 17th. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Dutch Bros in a research report on Monday. Finally, Barclays upgraded shares of Dutch Bros from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $38.00 to $70.00 in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $78.36.

Insider Buying and Selling at Dutch Bros

In related news, major shareholder Dm Individual Aggregator, Llc sold 182,123 shares of Dutch Bros stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $75.91, for a total value of $13,824,956.93. Following the completion of the sale, the insider now directly owns 2,310,834 shares in the company, valued at approximately $175,415,408.94. This trade represents a 7.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Travis Boersma sold 679,996 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $74.77, for a total transaction of $50,843,300.92. Following the transaction, the chairman now owns 2,640,779 shares in the company, valued at $197,451,045.83. This represents a 20.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,643,632 shares of company stock worth $201,509,627. 46.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Dutch Bros

Hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of Dutch Bros during the 4th quarter worth approximately $25,000. Coppell Advisory Solutions LLC increased its position in Dutch Bros by 638.6% in the fourth quarter. Coppell Advisory Solutions LLC now owns 517 shares of the company’s stock worth $27,000 after purchasing an additional 447 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in Dutch Bros during the fourth quarter valued at $41,000. Bernard Wealth Management Corp. bought a new position in Dutch Bros during the fourth quarter valued at $43,000. Finally, Gould Capital LLC grew its stake in shares of Dutch Bros by 20.4% in the 4th quarter. Gould Capital LLC now owns 826 shares of the company’s stock worth $43,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Dutch Bros Price Performance

NYSE BROS traded up $0.86 during trading hours on Wednesday, reaching $62.21. The company’s stock had a trading volume of 1,400,102 shares, compared to its average volume of 3,079,804. Dutch Bros has a 1 year low of $26.85 and a 1 year high of $86.88. The company has a quick ratio of 1.58, a current ratio of 1.76 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 182.98, a PEG ratio of 4.23 and a beta of 2.65. The firm’s 50-day moving average price is $67.96 and its 200-day moving average price is $53.27.

About Dutch Bros

Dutch Bros Inc, together with its subsidiaries, operates and franchises drive-thru shops in the United States. The company operates through Company-Operated Shops and Franchising and Other segments. It serves through company-operated shops and online channels under Dutch Bros; Dutch Bros Coffee; Dutch Bros Rebel; Dutch Bros; and Blue Rebel brands.