New Age Beverages Corp (NASDAQ:NBEV)’s stock price shot up 1.1% on Monday . The stock traded as high as $3.65 and last traded at $3.64, 151,385 shares traded hands during trading. A decline of 94% from the average session volume of 2,612,091 shares. The stock had previously closed at $3.60.
Several research firms have recently weighed in on NBEV. BidaskClub lowered shares of New Age Beverages from a “sell” rating to a “strong sell” rating in a report on Thursday, July 11th. Zacks Investment Research raised shares of New Age Beverages from a “sell” rating to a “hold” rating in a report on Friday. Maxim Group reaffirmed a “hold” rating on shares of New Age Beverages in a report on Friday, May 10th. Northland Securities reaffirmed a “hold” rating and set a $5.00 target price on shares of New Age Beverages in a report on Thursday. Finally, Compass Point began coverage on shares of New Age Beverages in a report on Monday, June 10th. They set a “buy” rating and a $9.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. New Age Beverages presently has an average rating of “Hold” and an average target price of $6.79.
The business has a fifty day simple moving average of $4.02. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.24 and a current ratio of 1.63.
New Age Beverages (NASDAQ:NBEV) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The company had revenue of $66.35 million during the quarter, compared to analysts’ expectations of $64.43 million. New Age Beverages had a negative return on equity of 18.51% and a negative net margin of 12.79%. New Age Beverages’s revenue was up 396.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. On average, analysts anticipate that New Age Beverages Corp will post -0.01 earnings per share for the current year.
In other news, CEO Brent D. Willis sold 25,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $4.00, for a total transaction of $100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.90% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC grew its holdings in shares of New Age Beverages by 5,012.7% during the first quarter. Advisory Services Network LLC now owns 10,072 shares of the company’s stock worth $53,000 after buying an additional 9,875 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of New Age Beverages during the 1st quarter valued at about $56,000. Advisor Group Inc. boosted its position in shares of New Age Beverages by 439.3% during the 4th quarter. Advisor Group Inc. now owns 10,785 shares of the company’s stock valued at $56,000 after acquiring an additional 8,785 shares during the last quarter. Cetera Advisor Networks LLC acquired a new position in shares of New Age Beverages during the 2nd quarter valued at about $61,000. Finally, South Texas Money Management Ltd. acquired a new position in shares of New Age Beverages during the 2nd quarter valued at about $67,000. 13.87% of the stock is owned by institutional investors and hedge funds.
About New Age Beverages (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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