According to Zacks, “New Age Beverages Corporation is a beverage company. The company’s brand portfolio include XingTea (R) , Aspen Pure (R) , Artesian Water, Búcha (R) Live Kombucha, Marley One Drop (R), RTD Coffee and Marley Mellow Mood (TM). New Age Beverages Corporation, formerly known as American Brewing Company Inc., is based in USA. “
Several other research firms have also issued reports on NBEV. TheStreet lowered New Age Beverages from a c- rating to a d+ rating in a research report on Thursday, August 22nd. Northland Securities restated a hold rating and issued a $5.00 price target on shares of New Age Beverages in a research report on Thursday, August 8th. ValuEngine lowered New Age Beverages from a buy rating to a hold rating in a research report on Wednesday, September 4th. Compass Point began coverage on New Age Beverages in a research report on Monday, June 10th. They issued a buy rating and a $9.00 price target on the stock. Finally, BidaskClub lowered New Age Beverages from a sell rating to a strong sell rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $7.55.
Shares of NASDAQ:NBEV traded up $0.05 during midday trading on Thursday, hitting $3.22. The company had a trading volume of 608,819 shares, compared to its average volume of 5,423,077. New Age Beverages has a 12 month low of $1.53 and a 12 month high of $9.99. The company has a quick ratio of 1.24, a current ratio of 1.65 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $3.42 and a 200 day simple moving average of $4.64.
New Age Beverages (NASDAQ:NBEV) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.14). New Age Beverages had a negative return on equity of 17.70% and a negative net margin of 12.78%. The company had revenue of $66.35 million during the quarter, compared to the consensus estimate of $64.43 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 396.6% on a year-over-year basis. Equities research analysts expect that New Age Beverages will post -0.27 earnings per share for the current year.
In other New Age Beverages news, CEO Brent D. Willis sold 25,000 shares of New Age Beverages stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $4.59, for a total transaction of $114,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 75,000 shares of company stock worth $296,500. Corporate insiders own 4.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. River & Mercantile Asset Management LLP acquired a new stake in shares of New Age Beverages in the 2nd quarter valued at about $1,724,000. Cubist Systematic Strategies LLC acquired a new stake in shares of New Age Beverages in the 2nd quarter valued at about $312,000. Morgan Stanley raised its stake in shares of New Age Beverages by 164.0% in the 2nd quarter. Morgan Stanley now owns 584,155 shares of the company’s stock valued at $2,722,000 after purchasing an additional 362,903 shares during the period. Vanguard Group Inc. raised its stake in shares of New Age Beverages by 34.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,645,591 shares of the company’s stock valued at $16,989,000 after purchasing an additional 928,126 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in shares of New Age Beverages in the 2nd quarter valued at about $112,000. Hedge funds and other institutional investors own 22.53% of the company’s stock.
New Age Beverages Company Profile
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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