New Age Beverages (NASDAQ:NBEV) Trading 5.3% Higher

New Age Beverages Corp (NASDAQ:NBEV) shares rose 5.3% during trading on Wednesday . The company traded as high as $3.37 and last traded at $3.36, approximately 1,974,100 shares changed hands during mid-day trading. A decline of 64% from the average daily volume of 5,466,897 shares. The stock had previously closed at $3.19.

Several equities research analysts recently weighed in on the company. TheStreet lowered New Age Beverages from a “c-” rating to a “d+” rating in a research report on Thursday, August 22nd. BidaskClub downgraded New Age Beverages from a “sell” rating to a “strong sell” rating in a report on Thursday, July 11th. ValuEngine lowered New Age Beverages from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Compass Point started coverage on New Age Beverages in a research report on Monday, June 10th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Northland Securities restated a “hold” rating and set a $5.00 target price on shares of New Age Beverages in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $7.55.

The stock’s 50 day simple moving average is $3.42 and its two-hundred day simple moving average is $4.64. The company has a current ratio of 1.65, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28.



New Age Beverages (NASDAQ:NBEV) last released its earnings results on Thursday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.14). The business had revenue of $66.35 million for the quarter, compared to analysts’ expectations of $64.43 million. New Age Beverages had a negative net margin of 12.78% and a negative return on equity of 17.70%. New Age Beverages’s revenue for the quarter was up 396.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) earnings per share. On average, equities research analysts expect that New Age Beverages Corp will post -0.27 EPS for the current fiscal year.

In other New Age Beverages news, CEO Brent D. Willis sold 25,000 shares of New Age Beverages stock in a transaction on Monday, July 15th. The stock was sold at an average price of $4.00, for a total transaction of $100,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 75,000 shares of company stock valued at $296,500. 4.90% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of New Age Beverages by 279.0% in the second quarter. BlackRock Inc. now owns 4,746,407 shares of the company’s stock worth $22,119,000 after acquiring an additional 3,494,062 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of New Age Beverages by 34.2% during the second quarter. Vanguard Group Inc. now owns 3,645,591 shares of the company’s stock valued at $16,989,000 after acquiring an additional 928,126 shares in the last quarter. Laurion Capital Management LP raised its position in shares of New Age Beverages by 19.8% in the 1st quarter. Laurion Capital Management LP now owns 626,632 shares of the company’s stock worth $3,296,000 after purchasing an additional 103,755 shares during the last quarter. Morgan Stanley raised its position in shares of New Age Beverages by 164.0% in the 2nd quarter. Morgan Stanley now owns 584,155 shares of the company’s stock worth $2,722,000 after purchasing an additional 362,903 shares during the last quarter. Finally, River & Mercantile Asset Management LLP bought a new position in New Age Beverages in the 2nd quarter worth about $1,724,000. 22.53% of the stock is currently owned by institutional investors and hedge funds.

About New Age Beverages (NASDAQ:NBEV)

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.

See Also: Liquidity

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