New Age Beverages (NASDAQ:NBEV) Lifted to Hold at Zacks Investment Research
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. “
NBEV has been the subject of a number of other research reports. ValuEngine upgraded New Age Beverages from a hold rating to a buy rating in a research report on Friday. BidaskClub cut New Age Beverages from a sell rating to a strong sell rating in a research report on Thursday, July 11th. TheStreet cut 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. Finally, 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 for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. New Age Beverages has an average rating of Hold and an average target price of $7.55.
New Age Beverages (NASDAQ:NBEV) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.15) 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 for the quarter, compared to analysts’ expectations of $64.43 million. During the same quarter last year, the company earned ($0.09) EPS. New Age Beverages’s revenue for the quarter was up 396.6% compared to the same quarter last year. As a group, research analysts anticipate that New Age Beverages will post -0.34 EPS for the current fiscal year.
In related news, CEO Brent D. Willis sold 25,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $3.27, for a total transaction of $81,750.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 75,000 shares of company stock worth $262,750. Corporate insiders own 4.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in shares of New Age Beverages during the second quarter valued at $89,000. Advisor Group Inc. lifted its stake in shares of New Age Beverages by 24.5% in the 2nd quarter. Advisor Group Inc. now owns 24,270 shares of the company’s stock valued at $112,000 after purchasing an additional 4,770 shares in the last quarter. WINTON GROUP Ltd lifted its stake in shares of New Age Beverages by 47.9% in the 2nd quarter. WINTON GROUP Ltd now owns 28,935 shares of the company’s stock valued at $135,000 after purchasing an additional 9,374 shares in the last quarter. Crosspoint Capital Strategies LLC acquired a new position in shares of New Age Beverages in the 1st quarter valued at about $1,173,000. Finally, Cetera Advisor Networks LLC acquired a new position in shares of New Age Beverages in the 2nd quarter valued at about $61,000. 22.22% of the stock is currently owned by institutional investors and hedge funds.
About New Age Beverages
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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