New Age Beverages Corp (NASDAQ:NBEV)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $3.28, but opened at $3.42. New Age Beverages shares last traded at $3.28, with a volume of 74,928 shares traded.
NBEV has been the subject of a number of recent analyst reports. Compass Point initiated coverage on shares of New Age Beverages in a research report on Monday, June 10th. They set a “buy” rating and a $9.00 target price for the company. BidaskClub cut shares of New Age Beverages from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 11th. Maxim Group reiterated a “hold” rating on shares of New Age Beverages in a research report on Friday, May 10th. Zacks Investment Research upgraded shares of New Age Beverages from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Northland Securities reiterated a “hold” rating and set a $5.00 target price on shares of New Age Beverages in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. New Age Beverages presently has a consensus rating of “Hold” and an average price target of $6.79.
The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.24. The firm’s 50-day simple moving average is $3.96 and its two-hundred day simple moving average is $5.06.
New Age Beverages (NASDAQ:NBEV) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.15) earnings per share 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 analyst estimates of $64.43 million. New Age Beverages had a negative net margin of 12.79% and a negative return on equity of 18.51%. The company’s revenue was up 396.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) EPS. Equities research analysts forecast that New Age Beverages Corp will post -0.09 earnings per share for the current fiscal year.
In other New Age Beverages news, CEO Brent D. Willis sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $4.00, for a total value of $100,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Independent Advisor Alliance increased its position in New Age Beverages by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 22,925 shares of the company’s stock valued at $121,000 after acquiring an additional 2,784 shares in the last quarter. Advisor Group Inc. increased its position in New Age Beverages by 24.5% in the 2nd quarter. Advisor Group Inc. now owns 24,270 shares of the company’s stock valued at $112,000 after acquiring an additional 4,770 shares in the last quarter. WINTON GROUP Ltd boosted its stake in shares of New Age Beverages by 47.9% in the 2nd quarter. WINTON GROUP Ltd now owns 28,935 shares of the company’s stock valued at $135,000 after purchasing an additional 9,374 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of New Age Beverages by 5,012.7% in the 1st quarter. Advisory Services Network LLC now owns 10,072 shares of the company’s stock valued at $53,000 after purchasing an additional 9,875 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in shares of New Age Beverages in the 1st quarter valued at about $56,000. Hedge funds and other institutional investors own 13.86% of the company’s stock.
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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