New Age Beverages Corp (NASDAQ:NBEV)’s share price traded down 9.1% during trading on Wednesday . The company traded as low as $1.58 and last traded at $1.60. 1,302,900 shares changed hands during trading, a decline of 52% from the average session volume of 2,700,679 shares. The stock had previously closed at $1.76.
A number of equities analysts recently commented on the company. Zacks Investment Research cut New Age Beverages from a “buy” rating to a “hold” rating in a report on Thursday, September 3rd. Alliance Global Partners increased their price target on New Age Beverages from $3.50 to $5.00 in a research report on Tuesday, July 21st. Finally, Northland Securities started coverage on New Age Beverages in a research report on Wednesday, July 22nd. They issued a “hold” rating on the stock.
The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.99 and a current ratio of 1.56. The company has a market cap of $161.24 million, a price-to-earnings ratio of -1.36 and a beta of 1.72. The business has a 50-day simple moving average of $2.03 and a 200-day simple moving average of $1.68.
New Age Beverages (NASDAQ:NBEV) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). New Age Beverages had a negative net margin of 38.26% and a negative return on equity of 48.54%. The company had revenue of $62.64 million during the quarter, compared to analyst estimates of $65.87 million. Research analysts anticipate that New Age Beverages Corp will post -0.32 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG raised its position in shares of New Age Beverages by 885.3% during the 2nd quarter. UBS Group AG now owns 16,573 shares of the company’s stock worth $26,000 after acquiring an additional 14,891 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of New Age Beverages by 70.1% in the second quarter. Bank of Montreal Can now owns 17,181 shares of the company’s stock valued at $26,000 after buying an additional 7,081 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of New Age Beverages in the second quarter valued at approximately $27,000. BNP Paribas Arbitrage SA boosted its stake in shares of New Age Beverages by 123.4% in the first quarter. BNP Paribas Arbitrage SA now owns 22,974 shares of the company’s stock valued at $32,000 after buying an additional 12,689 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of New Age Beverages by 117.0% in the first quarter. JPMorgan Chase & Co. now owns 24,120 shares of the company’s stock valued at $33,000 after buying an additional 166,131 shares in the last quarter. 22.31% of the stock is currently owned by institutional investors and hedge funds.
New Age Beverages Company Profile (NASDAQ:NBEV)
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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