Aegis Reaffirms “Buy” Rating for New Age Beverages (NBEV)

Aegis reissued their buy rating on shares of New Age Beverages (NASDAQ:NBEV) in a research note issued to investors on Monday.

Other equities analysts have also issued research reports about the stock. TheStreet lowered shares of New Age Beverages from a c rating to a d+ rating in a report on Monday, August 7th. Zacks Investment Research lowered shares of New Age Beverages from a hold rating to a sell rating in a report on Thursday, November 16th. Finally, Maxim Group reduced their target price on shares of New Age Beverages from $7.50 to $6.00 and set a buy rating on the stock in a report on Friday, November 17th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $5.63.

New Age Beverages (NASDAQ NBEV) opened at $2.21 on Monday. The company has a current ratio of 2.21, a quick ratio of 1.26 and a debt-to-equity ratio of 0.11. New Age Beverages has a twelve month low of $1.80 and a twelve month high of $7.20.

A number of institutional investors have recently made changes to their positions in NBEV. Russell Investments Group Ltd. grew its holdings in New Age Beverages by 418.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,120,880 shares of the company’s stock worth $5,749,000 after acquiring an additional 904,499 shares during the last quarter. Vanguard Group Inc. bought a new stake in New Age Beverages in the 2nd quarter worth $3,358,000. Cadence Capital Management LLC bought a new stake in New Age Beverages in the 3rd quarter worth $981,000. Pacific Grove Capital LP grew its holdings in New Age Beverages by 33.5% in the 3rd quarter. Pacific Grove Capital LP now owns 941,021 shares of the company’s stock worth $3,209,000 after acquiring an additional 236,281 shares during the last quarter. Finally, EAM Investors LLC bought a new stake in New Age Beverages in the 2nd quarter worth $1,104,000. 12.88% of the stock is currently owned by institutional investors and hedge funds.

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New Age Beverages Company Profile

The New Age Beverage Corporation, formerly Bucha, Inc, is a healthy functional beverage company. The Company is the owner of XingTea, XingEnergy, Aspen Pure and the Bucha Live Kombucha brands. The Company’s bucha Live Kombucha is a gluten free, organic certified, sparkling kombucha tea and is distributed in health and grocery chains across North America.

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