New Age Beverages (NASDAQ:NBEV) had its price target cut by equities research analysts at Alliance Global Partners from $6.00 to $3.50 in a research note issued to investors on Friday, Briefing.com Automated Import reports. The firm presently has a “buy” rating on the stock. Alliance Global Partners’ price target points to a potential upside of 54.87% from the company’s current price.
Several other analysts also recently issued reports on the company. ValuEngine raised New Age Beverages from a “hold” rating to a “buy” rating in a report on Friday, September 20th. Zacks Investment Research raised New Age Beverages from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. TheStreet downgraded New Age Beverages from a “c-” rating to a “d+” rating in a report on Thursday, August 22nd. Finally, Northland Securities reissued a “hold” rating and issued a $5.00 price target on shares of New Age Beverages in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.35.
NASDAQ:NBEV traded up $0.05 during trading hours on Friday, hitting $2.26. 1,528,800 shares of the stock traded hands, compared to its average volume of 1,395,149. The stock has a 50 day moving average price of $2.72 and a 200 day moving average price of $3.81. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.65 and a quick ratio of 1.24. New Age Beverages has a 1 year low of $2.10 and a 1 year high of $7.79.
New Age Beverages (NASDAQ:NBEV) last issued its quarterly earnings data on Thursday, November 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.09). The business had revenue of $69.80 million for the quarter, compared to analyst estimates of $69.95 million. New Age Beverages had a negative return on equity of 20.40% and a negative net margin of 12.76%. New Age Beverages’s revenue for the quarter was up 428.8% on a year-over-year basis. Research analysts expect that New Age Beverages will post -0.34 EPS for the current fiscal year.
In other New Age Beverages news, CEO Brent D. Willis sold 25,000 shares of New Age Beverages stock in a transaction on Monday, September 16th. The stock was sold at an average price of $3.24, for a total transaction of $81,000.00. Following the sale, the chief executive officer now owns 1,504,367 shares of the company’s stock, valued at approximately $4,874,149.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.90% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in NBEV. Lindbrook Capital LLC lifted its position in shares of New Age Beverages by 230.0% in the third quarter. Lindbrook Capital LLC now owns 16,500 shares of the company’s stock worth $46,000 after buying an additional 11,500 shares during the last quarter. Creative Planning acquired a new position in shares of New Age Beverages in the 3rd quarter valued at $57,000. Cetera Advisor Networks LLC acquired a new position in shares of New Age Beverages in the 2nd quarter valued at $61,000. South Texas Money Management Ltd. acquired a new position in shares of New Age Beverages in the 2nd quarter valued at $67,000. Finally, United Asset Strategies Inc. acquired a new position in shares of New Age Beverages in the 2nd quarter valued at $78,000. 21.23% of the stock is currently owned by hedge funds and other 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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