New Age Beverages Corp (NBEV) Receives $8.33 Consensus Target Price from Analysts

New Age Beverages Corp (NASDAQ:NBEV) has been assigned a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $9.00.

Several research firms have commented on NBEV. Zacks Investment Research cut New Age Beverages from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. BidaskClub cut New Age Beverages from a “buy” rating to a “hold” rating in a report on Saturday, February 9th. TheStreet upgraded New Age Beverages from a “d+” rating to a “c-” rating in a report on Friday, February 22nd. Northland Securities lifted their price target on New Age Beverages from $6.00 to $8.00 and gave the company a “sell” rating in a report on Monday, January 7th. Finally, ValuEngine raised New Age Beverages from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd.

NBEV traded down $0.27 during midday trading on Friday, hitting $5.08. The company’s stock had a trading volume of 4,056,100 shares, compared to its average volume of 8,844,525. The company has a debt-to-equity ratio of 0.04, a quick ratio of 12.38 and a current ratio of 15.69. New Age Beverages has a 52-week low of $1.30 and a 52-week high of $9.99.



Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBEV. Geode Capital Management LLC lifted its position in New Age Beverages by 77.5% during the 4th quarter. Geode Capital Management LLC now owns 444,631 shares of the company’s stock worth $2,312,000 after acquiring an additional 194,180 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in New Age Beverages during the 4th quarter worth approximately $106,000. Dimensional Fund Advisors LP lifted its position in New Age Beverages by 311.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 97,621 shares of the company’s stock worth $508,000 after acquiring an additional 73,900 shares in the last quarter. Millennium Management LLC acquired a new position in New Age Beverages during the 4th quarter worth approximately $256,000. Finally, Stifel Financial Corp acquired a new position in New Age Beverages during the 4th quarter worth approximately $296,000. 13.73% of the stock is currently owned by institutional investors and hedge funds.

New Age Beverages Company Profile

New Age Beverages Corporation, a healthy functional beverage company, engages in the development, marketing, sales, and distribution of beverages. The company offers ready to drink (RTD) tea, RTD coffee, kombucha, energy drinks, relaxation drinks, coconut waters, functional waters, and rehydration beverages, as well as functional medical beverages.

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