New Age Beverages Corp (NASDAQ:NBEV) has been given an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy rating.
Brokerages have set a 12 month consensus target price of $6.50 for the company and are predicting that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also assigned New Age Beverages an industry rank of 192 out of 265 based on the ratings given to its competitors.
NBEV has been the topic of a number of recent research reports. Zacks Investment Research downgraded New Age Beverages from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. Maxim Group cut their target price on shares of New Age Beverages from $7.50 to $6.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Finally, Aegis reiterated a “buy” rating on shares of New Age Beverages in a research note on Monday, December 4th.
Several large investors have recently bought and sold shares of NBEV. Northern Trust Corp bought a new position in shares of New Age Beverages in the second quarter valued at approximately $151,000. Vanguard Group Inc. bought a new position in shares of New Age Beverages in the second quarter valued at approximately $3,358,000. Virtu KCG Holdings LLC raised its stake in shares of New Age Beverages by 119.9% in the second quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock valued at $170,000 after acquiring an additional 18,189 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of New Age Beverages by 18.1% in the second quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock valued at $114,000 after acquiring an additional 3,428 shares during the last quarter. Finally, Cadence Capital Management LLC bought a new position in shares of New Age Beverages in the third quarter valued at approximately $981,000. Institutional investors own 12.78% of the company’s stock.
New Age Beverages (NASDAQ NBEV) traded down $0.28 during midday trading on Wednesday, reaching $3.39. The company’s stock had a trading volume of 430,307 shares, compared to its average volume of 1,437,070. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.26 and a current ratio of 2.21. New Age Beverages has a 12 month low of $1.80 and a 12 month high of $7.20.
New Age Beverages (NASDAQ:NBEV) last released its quarterly earnings data on Tuesday, November 14th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). New Age Beverages had a negative net margin of 0.41% and a negative return on equity of 0.58%. sell-side analysts predict that New Age Beverages will post 0.06 EPS for the current year.
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About New Age Beverages
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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