New Age Beverage Corporation (NBEV) Given Average Recommendation of “Strong Buy” by Analysts

Shares of New Age Beverage Corporation (NASDAQ:NBEV) have earned an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a twelve-month consensus price objective of $8.33 for the company and are predicting that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also assigned New Age Beverage Corporation an industry rank of 164 out of 265 based on the ratings given to related companies.

Several analysts recently issued reports on NBEV shares. Maxim Group upped their price objective on shares of New Age Beverage Corporation from $6.00 to $7.50 and gave the company a “buy” rating in a research note on Monday, May 22nd. Roth Capital started coverage on shares of New Age Beverage Corporation in a research note on Thursday, July 27th. They set a “buy” rating and a $7.50 price objective for the company. Zacks Investment Research raised shares of New Age Beverage Corporation from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research note on Wednesday, August 2nd. Finally, TheStreet cut shares of New Age Beverage Corporation from a “c” rating to a “d+” rating in a research note on Monday, August 7th.

Shares of New Age Beverage Corporation (NBEV) traded down 1.86% on Tuesday, hitting $3.69. The stock had a trading volume of 51,543 shares. New Age Beverage Corporation has a 12 month low of $1.28 and a 12 month high of $7.20. The firm’s 50-day moving average price is $4.37 and its 200 day moving average price is $4.58. The firm has a market cap of $126.68 million, a P/E ratio of 217.06 and a beta of 4.74.

In other news, Director Timothy J. Haas purchased 85,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was acquired at an average price of $3.49 per share, with a total value of $296,650.00. Following the purchase, the director now directly owns 30,000 shares in the company, valued at approximately $104,700. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Neil Fallon sold 38,881 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $4.53, for a total transaction of $176,130.93. Following the completion of the sale, the director now directly owns 5,354,858 shares of the company’s stock, valued at approximately $24,257,506.74. The disclosure for this sale can be found here. 48.59% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in shares of New Age Beverage Corporation by 418.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,120,880 shares of the company’s stock valued at $5,749,000 after buying an additional 904,499 shares during the period. Vanguard Group Inc. purchased a new stake in shares of New Age Beverage Corporation in the 2nd quarter valued at approximately $3,358,000. Timpani Capital Management LLC grew its stake in shares of New Age Beverage Corporation by 43.7% in the 2nd quarter. Timpani Capital Management LLC now owns 308,471 shares of the company’s stock valued at $1,582,000 after buying an additional 93,817 shares during the period. EAM Investors LLC purchased a new stake in shares of New Age Beverage Corporation in the 2nd quarter valued at approximately $1,104,000. Finally, Blair William & Co. IL purchased a new stake in shares of New Age Beverage Corporation in the 2nd quarter valued at approximately $577,000. 14.01% of the stock is owned by institutional investors and hedge funds.

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New Age Beverage Corporation Company Profile

The New Age Beverage Corporation, formerly Bucha, Inc, is a healthy functional beverage company. The Company is the owner of XingTea, XingEnergy, Aspen Pure and the Bucha Live Kombucha brands. The Company’s bucha Live Kombucha is a gluten free, organic certified, sparkling kombucha tea and is distributed in health and grocery chains across North America.

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