New Age Beverages (NASDAQ:NBEV) Stock Rating Upgraded by ValuEngine

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New Age Beverages (NASDAQ:NBEV) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, September 28th.

NBEV has been the topic of a number of other reports. Maxim Group cut shares of New Age Beverages from a “buy” rating to a “hold” rating in a research report on Friday, September 21st. Northland Securities assumed coverage on shares of New Age Beverages in a report on Tuesday, September 4th. They issued an “outperform” rating and a $3.00 target price on the stock. Finally, Zacks Investment Research cut shares of New Age Beverages from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $2.92.

NASDAQ NBEV traded up $0.25 on Friday, reaching $6.19. 11,097,515 shares of the company’s stock traded hands, compared to its average volume of 5,494,281. New Age Beverages has a 12 month low of $1.30 and a 12 month high of $9.99. The company has a current ratio of 1.48, a quick ratio of 0.74 and a debt-to-equity ratio of 0.07.

New Age Beverages (NASDAQ:NBEV) last issued its quarterly earnings results on Tuesday, August 14th. The company reported ($0.09) EPS for the quarter. New Age Beverages had a negative net margin of 22.14% and a negative return on equity of 21.60%. The business had revenue of $13.36 million for the quarter. On average, equities analysts anticipate that New Age Beverages will post -0.2 EPS for the current fiscal year.

In other New Age Beverages news, Director Robert J. Evans purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was bought at an average price of $1.28 per share, with a total value of $128,000.00. Following the completion of the purchase, the director now directly owns 69,232 shares of the company’s stock, valued at approximately $88,616.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brent D. Willis purchased 78,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was acquired at an average cost of $1.28 per share, with a total value of $99,840.00. The disclosure for this purchase can be found here. 20.00% of the stock is currently owned by company insiders.

A hedge fund recently bought a new stake in New Age Beverages stock. Bank of Montreal Can acquired a new stake in shares of New Age Beverages Corp (NASDAQ:NBEV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 37,800 shares of the company’s stock, valued at approximately $202,000. Bank of Montreal Can owned 0.09% of New Age Beverages at the end of the most recent quarter. 11.29% of the stock is currently owned by hedge funds and other institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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