New Age Beverages Corp (NASDAQ:NBEV)’s share price traded up 12.6% during trading on Tuesday . The company traded as high as $5.19 and last traded at $4.46. 29,712,900 shares changed hands during mid-day trading, an increase of 824% from the average session volume of 3,216,099 shares. The stock had previously closed at $3.96.
A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of New Age Beverages from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Maxim Group reduced their price target on shares of New Age Beverages from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Northland Securities assumed coverage on shares of New Age Beverages in a research report on Tuesday, September 4th. They issued an “outperform” rating and a $3.00 price target on the stock. Finally, ValuEngine upgraded shares of New Age Beverages from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. New Age Beverages has a consensus rating of “Hold” and an average target price of $2.92.
The company has a debt-to-equity ratio of 0.07, a current ratio of 1.48 and a quick ratio of 0.74.
New Age Beverages (NASDAQ:NBEV) last released its quarterly earnings results on Tuesday, August 14th. The company reported ($0.09) EPS for the quarter. The firm had revenue of $13.36 million during the quarter. New Age Beverages had a negative net margin of 22.15% and a negative return on equity of 21.61%. research analysts expect that New Age Beverages Corp will post -0.2 earnings per share for the current fiscal year.
In related news, Director Robert J. Evans bought 100,000 shares of New Age Beverages stock in a transaction dated Friday, August 24th. The shares were bought at an average cost of $1.28 per share, for a total transaction of $128,000.00. Following the completion of the transaction, the director now owns 69,232 shares of the company’s stock, valued at $88,616.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brent D. Willis bought 78,000 shares of New Age Beverages stock in a transaction dated Friday, August 24th. The shares were bought at an average price of $1.28 per share, for a total transaction of $99,840.00. The disclosure for this purchase can be found here. 20.00% of the stock is owned by insiders.
An institutional investor recently bought a new position in New Age Beverages stock. Nepsis Inc. bought a new position in shares of New Age Beverages Corp (NASDAQ:NBEV) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,739,190 shares of the company’s stock, valued at approximately $3,252,000. New Age Beverages makes up 1.6% of Nepsis Inc.’s investment portfolio, making the stock its 27th largest position. Nepsis Inc. owned approximately 4.43% of New Age Beverages at the end of the most recent reporting period. Institutional investors own 9.72% of the company’s stock.
New Age Beverages Company Profile (NASDAQ:NBEV)
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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