Shares of New Age Beverage Corporation (NASDAQ:NBEV) have received an average broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus target price of $8.33 for the company and are forecasting that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also assigned New Age Beverage Corporation an industry rank of 191 out of 265 based on the ratings given to related companies.
Several equities research analysts recently commented on NBEV shares. Zacks Investment Research upgraded New Age Beverage Corporation from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a report on Wednesday, August 2nd. Roth Capital started coverage on New Age Beverage Corporation in a report on Thursday, July 27th. They issued a “buy” rating and a $7.50 price objective for the company. Finally, TheStreet downgraded New Age Beverage Corporation from a “c” rating to a “d+” rating in a report on Monday, August 7th.
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Shares of New Age Beverage Corporation (NBEV) opened at $2.34 on Friday. New Age Beverage Corporation has a twelve month low of $1.47 and a twelve month high of $7.20. The company has a quick ratio of 1.32, a current ratio of 2.38 and a debt-to-equity ratio of 0.11.
In other news, Director Timothy J. Haas purchased 85,000 shares of the business’s stock in a transaction on Friday, August 25th. The stock was acquired at an average cost of $3.49 per share, for a total transaction of $296,650.00. Following the purchase, the director now directly owns 30,000 shares in the company, valued at approximately $104,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Neil Fallon sold 38,881 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $4.53, for a total value of $176,130.93. Following the sale, the director now owns 5,354,858 shares of the company’s stock, valued at $24,257,506.74. The disclosure for this sale can be found here. Insiders own 48.59% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its stake in shares of New Age Beverage Corporation by 18.1% during the 2nd quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock valued at $114,000 after purchasing an additional 3,428 shares during the period. Virtu KCG Holdings LLC grew its stake in shares of New Age Beverage Corporation by 119.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock valued at $170,000 after purchasing an additional 18,189 shares during the period. Northern Trust Corp bought a new stake in shares of New Age Beverage Corporation during the 2nd quarter valued at about $151,000. Timpani Capital Management LLC grew its stake in shares of New Age Beverage Corporation by 43.7% during the 2nd quarter. Timpani Capital Management LLC now owns 308,471 shares of the company’s stock valued at $1,582,000 after purchasing an additional 93,817 shares during the period. Finally, Blair William & Co. IL bought a new stake in shares of New Age Beverage Corporation during the 2nd quarter valued at about $577,000. Institutional investors and hedge funds own 14.04% of the company’s stock.
About New Age Beverage Corporation
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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