Zacks: Analysts Set $7.83 Target Price for New Age Beverage Corporation (NBEV)

New Age Beverage Corporation (NASDAQ:NBEV) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.

Analysts have set a one year consensus target price of $7.83 for the company and are predicting 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 198 out of 265 based on the ratings given to related companies.

NBEV has been the subject of a number of analyst reports. Roth Capital initiated coverage on New Age Beverage Corporation in a research note on Thursday, July 27th. They set a “buy” rating and a $7.50 price target for the company. Zacks Investment Research upgraded New Age Beverage Corporation from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research note on Wednesday, August 2nd. Maxim Group cut their price target on New Age Beverage Corporation from $7.50 to $6.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Finally, TheStreet downgraded New Age Beverage Corporation from a “c” rating to a “d+” rating in a research note on Monday, August 7th.

A number of hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its stake in New Age Beverage Corporation by 418.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,120,880 shares of the company’s stock valued at $5,749,000 after purchasing an additional 904,499 shares during the last quarter. Pacific Grove Capital LP boosted its stake in shares of New Age Beverage Corporation by 33.5% in the 3rd quarter. Pacific Grove Capital LP now owns 941,021 shares of the company’s stock worth $3,209,000 after buying an additional 236,281 shares during the last quarter. Vanguard Group Inc. purchased a new position in shares of New Age Beverage Corporation in the 2nd quarter worth approximately $3,358,000. Timpani Capital Management LLC boosted 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 worth $1,582,000 after buying an additional 93,817 shares during the last quarter. Finally, Cadence Capital Management LLC purchased a new position in shares of New Age Beverage Corporation in the 3rd quarter worth approximately $981,000. Institutional investors and hedge funds own 13.27% of the company’s stock.

New Age Beverage Corporation (NASDAQ NBEV) traded down $0.07 during mid-day trading on Friday, reaching $2.25. The company’s stock had a trading volume of 82,669 shares, compared to its average volume of 290,434. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.26. New Age Beverage Corporation has a fifty-two week low of $1.80 and a fifty-two week high of $7.20.

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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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