Shares of New Age Beverages Corp (NASDAQ:NBEV) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $8.00.
NBEV has been the topic of several research analyst reports. ValuEngine raised New Age Beverages from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Northland Securities reaffirmed a “hold” rating and set a $5.00 price objective on shares of New Age Beverages in a research note on Thursday, August 8th. Compass Point initiated coverage on New Age Beverages in a research note on Monday, June 10th. They set a “buy” rating and a $9.00 price objective on the stock. Zacks Investment Research raised New Age Beverages from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, TheStreet downgraded New Age Beverages from a “c-” rating to a “d+” rating in a research note on Thursday, August 22nd.
New Age Beverages stock traded down $0.02 during mid-day trading on Tuesday, hitting $2.86. 845,688 shares of the company’s stock were exchanged, compared to its average volume of 2,188,269. New Age Beverages has a fifty-two week low of $2.57 and a fifty-two week high of $9.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.65. The company’s 50 day simple moving average is $3.12 and its 200-day simple moving average is $4.35.
In other New Age Beverages news, CEO Brent D. Willis sold 25,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $4.00, for a total transaction of $100,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 75,000 shares of company stock valued at $262,750. Corporate insiders own 4.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in New Age Beverages by 279.0% during the 2nd quarter. BlackRock Inc. now owns 4,746,407 shares of the company’s stock worth $22,119,000 after purchasing an additional 3,494,062 shares in the last quarter. Vanguard Group Inc. increased its holdings in New Age Beverages by 34.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,645,591 shares of the company’s stock worth $16,989,000 after purchasing an additional 928,126 shares in the last quarter. Morgan Stanley increased its holdings in New Age Beverages by 164.0% during 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 in the last quarter. River & Mercantile Asset Management LLP bought a new position in New Age Beverages during the 2nd quarter worth about $1,724,000. Finally, Crosspoint Capital Strategies LLC bought a new position in shares of New Age Beverages in the 1st quarter valued at about $1,173,000. Hedge funds and other institutional investors own 22.22% of the company’s stock.
About New Age Beverages
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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