Zacks Investment Research upgraded shares of New Age Beverage Corporation (NASDAQ:NBEV) from a hold rating to a buy rating in a report issued on Wednesday, October 18th. Zacks Investment Research currently has $2.75 price objective on the stock.
According to Zacks, “New Age Beverages Corporation is a beverage company. The company’s brand portfolio include XingTea (R) , Aspen Pure (R) , Artesian Water, Búcha (R) Live Kombucha, Marley One Drop (R), RTD Coffee and Marley Mellow Mood (TM). New Age Beverages Corporation, formerly known as American Brewing Company Inc., is based in USA. “
Several other equities analysts have also commented on the stock. Roth Capital started coverage on shares of New Age Beverage Corporation in a research report on Thursday, July 27th. They issued a buy rating and a $7.50 price objective for the company. TheStreet lowered shares of New Age Beverage Corporation from a c rating to a d+ rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. New Age Beverage Corporation has a consensus rating of Buy and a consensus target price of $6.00.
New Age Beverage Corporation (NBEV) traded down $0.07 during trading hours on Wednesday, hitting $2.34. 158,748 shares of the stock were exchanged, compared to its average volume of 349,658. The company has a current ratio of 2.38, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. New Age Beverage Corporation has a twelve month low of $1.47 and a twelve month high of $7.20.
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In other news, Director Timothy J. Haas bought 85,000 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was purchased at an average cost of $3.49 per share, with a total value of $296,650.00. Following the acquisition, the director now directly owns 30,000 shares in the company, valued at $104,700. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Neil Fallon sold 38,881 shares of New Age Beverage Corporation stock in a transaction 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 in the company, valued at approximately $24,257,506.74. The disclosure for this sale can be found here. 48.59% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC grew its stake in New Age Beverage Corporation by 18.1% in the 2nd quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock valued at $114,000 after acquiring an additional 3,428 shares during the period. Northern Trust Corp acquired a new stake in New Age Beverage Corporation in the 2nd quarter valued at $151,000. Virtu KCG Holdings LLC grew its stake in New Age Beverage Corporation by 119.9% in the 2nd quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock valued at $170,000 after acquiring an additional 18,189 shares during the period. Blair William & Co. IL acquired a new stake in New Age Beverage Corporation in the 2nd quarter valued at $577,000. Finally, EAM Investors LLC acquired a new stake in New Age Beverage Corporation in the 2nd quarter valued at $1,104,000. 14.04% of the stock is currently owned by hedge funds and other institutional investors.
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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