Short Interest in Craft Brew Alliance Inc (NASDAQ:BREW) Drops By 10.2%

Craft Brew Alliance Inc (NASDAQ:BREW) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 833,700 shares, a decline of 10.2% from the December 15th total of 927,900 shares. Based on an average trading volume of 357,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 7.4% of the shares of the company are short sold.

NASDAQ BREW opened at $16.44 on Tuesday. The stock has a 50-day simple moving average of $16.48 and a two-hundred day simple moving average of $12.87. The firm has a market capitalization of $320.41 million, a P/E ratio of 78.29 and a beta of 0.98. Craft Brew Alliance has a fifty-two week low of $7.11 and a fifty-two week high of $17.40. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.33.

Craft Brew Alliance (NASDAQ:BREW) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.07). The company had revenue of $50.30 million for the quarter, compared to analysts’ expectations of $56.88 million. Craft Brew Alliance had a negative net margin of 3.10% and a negative return on equity of 3.32%. The company’s quarterly revenue was down 9.5% on a year-over-year basis. As a group, analysts forecast that Craft Brew Alliance will post -0.01 earnings per share for the current year.

A number of research firms have weighed in on BREW. Maxim Group lowered Craft Brew Alliance from a “buy” rating to a “hold” rating and lifted their price objective for the company from $16.00 to $16.50 in a research note on Tuesday, November 12th. TheStreet upgraded Craft Brew Alliance from a “d+” rating to a “c” rating in a research note on Tuesday, December 10th. Zacks Investment Research lowered Craft Brew Alliance from a “hold” rating to a “strong sell” rating in a research note on Friday, January 3rd. Cowen lowered Craft Brew Alliance from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 27th. Finally, Citigroup set a $10.00 price objective on Craft Brew Alliance and gave the company a “hold” rating in a research note on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $23.79.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BREW. Bank of Montreal Can increased its stake in shares of Craft Brew Alliance by 57.5% in the 2nd quarter. Bank of Montreal Can now owns 2,092 shares of the company’s stock valued at $29,000 after purchasing an additional 764 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Craft Brew Alliance by 5.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 16,910 shares of the company’s stock valued at $237,000 after purchasing an additional 910 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Craft Brew Alliance by 3.4% in the 3rd quarter. California Public Employees Retirement System now owns 43,626 shares of the company’s stock valued at $357,000 after purchasing an additional 1,445 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Craft Brew Alliance by 8.6% in the 3rd quarter. Rhumbline Advisers now owns 18,785 shares of the company’s stock valued at $154,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Craft Brew Alliance by 1.3% in the 2nd quarter. Northern Trust Corp now owns 165,898 shares of the company’s stock valued at $2,322,000 after purchasing an additional 2,123 shares in the last quarter. Institutional investors and hedge funds own 42.14% of the company’s stock.

Craft Brew Alliance Company Profile

Craft Brew Alliance, Inc brews and sells craft beers and ciders in the United States and internationally. It operates through two segments, Beer Related Operations and Brewpubs Operations. It offers beers under the Kona, Omission, Appalachian Mountain, Cisco, Redhook, Widmer Brothers, and Wynwood brands; and ciders under the Square Mile brand name.

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