Craft Brew Alliance Inc (NASDAQ:BREW) was the target of a significant increase in short interest in November. As of November 29th, there was short interest totalling 1,110,000 shares, an increase of 32.5% from the November 14th total of 837,600 shares. Approximately 9.9% of the shares of the stock are sold short. Based on an average daily volume of 361,900 shares, the short-interest ratio is currently 3.1 days.
Several hedge funds and other institutional investors have recently bought and sold shares of BREW. Aperio Group LLC bought a new stake in shares of Craft Brew Alliance during the second quarter worth $27,000. Bank of Montreal Can grew its stake in shares of Craft Brew Alliance by 57.5% during the second quarter. Bank of Montreal Can now owns 2,092 shares of the company’s stock worth $29,000 after buying an additional 764 shares during the last quarter. Usca Ria LLC bought a new stake in shares of Craft Brew Alliance during the third quarter worth $46,000. Millennium Management LLC bought a new stake in shares of Craft Brew Alliance during the third quarter worth $125,000. Finally, Rhumbline Advisers grew its stake in shares of Craft Brew Alliance by 8.6% during the third quarter. Rhumbline Advisers now owns 18,785 shares of the company’s stock worth $154,000 after buying an additional 1,482 shares during the last quarter. 42.14% of the stock is currently owned by hedge funds and other institutional investors.
BREW has been the subject of several research analyst reports. ValuEngine upgraded shares of Craft Brew Alliance from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Cowen downgraded shares of Craft Brew Alliance from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 27th. BMO Capital Markets lowered their price objective on shares of Craft Brew Alliance from $12.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, September 6th. TheStreet upgraded shares of Craft Brew Alliance from a “d+” rating to a “c” rating in a research report on Tuesday. Finally, Maxim Group cut shares of Craft Brew Alliance from a “buy” rating to a “hold” rating and boosted their target price for the stock from $16.00 to $16.50 in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Craft Brew Alliance presently has an average rating of “Hold” and a consensus target price of $23.79.
NASDAQ BREW opened at $16.47 on Friday. The firm’s fifty day moving average price is $13.24 and its two-hundred day moving average price is $12.48. The stock has a market cap of $321.19 million, a PE ratio of 78.43 and a beta of 1.00. 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 posted its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The company had revenue of $50.30 million for the quarter, compared to the consensus estimate of $56.88 million. Craft Brew Alliance had a negative return on equity of 3.32% and a negative net margin of 3.10%. The firm’s revenue was down 9.5% compared to the same quarter last year. As a group, sell-side analysts predict that Craft Brew Alliance will post -0.01 earnings per share for the current fiscal year.
About Craft Brew Alliance
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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