BidaskClub upgraded shares of New Age Beverages (NASDAQ:NBEV) from a sell rating to a hold rating in a report issued on Wednesday morning.
NBEV has been the topic of a number of other research reports. Zacks Investment Research lowered New Age Beverages from a buy rating to a hold rating in a research report on Wednesday, November 21st. ValuEngine raised New Age Beverages from a hold rating to a buy rating in a research report on Friday, September 21st. Maxim Group lowered New Age Beverages from a buy rating to a hold rating in a research report on Friday, September 21st. Roth Capital boosted their target price on New Age Beverages from $7.00 to $10.00 and gave the company a buy rating in a research report on Tuesday. Finally, Northland Securities began coverage on New Age Beverages in a research report on Tuesday, September 4th. They issued an outperform rating and a $3.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. New Age Beverages has a consensus rating of Buy and an average price target of $5.19.
Shares of NASDAQ NBEV opened at $4.69 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 15.69 and a quick ratio of 12.38. New Age Beverages has a 52-week low of $1.30 and a 52-week high of $9.99.
New Age Beverages (NASDAQ:NBEV) last announced its earnings results on Wednesday, November 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The firm had revenue of $13.24 million during the quarter, compared to analysts’ expectations of $13.54 million. New Age Beverages had a negative net margin of 29.08% and a negative return on equity of 23.49%. Research analysts anticipate that New Age Beverages will post -0.24 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nepsis Inc. purchased a new stake in shares of New Age Beverages during the second quarter worth $3,252,000. Bank of Montreal Can acquired a new position in shares of New Age Beverages during the third quarter worth $202,000. BlackRock Inc. grew its stake in shares of New Age Beverages by 425.7% during the third quarter. BlackRock Inc. now owns 743,966 shares of the company’s stock worth $3,980,000 after purchasing an additional 602,434 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of New Age Beverages by 75.6% during the third quarter. Vanguard Group Inc. now owns 1,357,536 shares of the company’s stock worth $7,263,000 after purchasing an additional 584,381 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of New Age Beverages during the third quarter worth $1,081,000. 6.45% of the stock is currently owned by 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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