Craft Brew Alliance Inc. (NASDAQ:BREW) fell 5% during mid-day trading on Wednesday . The company traded as low as $12.02 and last traded at $12.06, with a volume of 59,687 shares changing hands. The stock had previously closed at $12.69.

A number of research firms recently issued reports on BREW. Zacks Investment Research downgraded shares of Craft Brew Alliance from a “hold” rating to a “sell” rating in a report on Wednesday, April 6th. Citigroup Inc. lowered their target price on shares of Craft Brew Alliance from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, June 15th.

The stock has a 50 day moving average of $10.34 and a 200-day moving average of $8.69. The firm has a market capitalization of $231.40 million and a P/E ratio of 1340.00.

Craft Brew Alliance (NASDAQ:BREW) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.12. The firm had revenue of $39.22 million for the quarter, compared to analyst estimates of $39.39 million. The company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. Analysts predict that Craft Brew Alliance Inc. will post $0.20 EPS for the current year.

An institutional investor recently raised its position in Craft Brew Alliance stock. Dimensional Fund Advisors LP increased its stake in Craft Brew Alliance Inc. (NASDAQ:BREW) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,078,300 shares of the company’s stock after buying an additional 35,330 shares during the period. Dimensional Fund Advisors LP owned 5.62% of Craft Brew Alliance worth $9,025,000 at the end of the most recent reporting period.

Craft Brew Alliance, Inc is a craft brewing company that is engaged in brewing, branding and bringing to market American craft beers. The Company operates through two segments: Beer Related operations, which include the brewing operations and related domestic and international beer and cider sales of its Kona, Widmer Brothers, Redhook and Omission beer brands, and Square Mile cider brand, and Pubs operations, which include its approximately five pubs, over four of which are located adjacent to its Beer Related operations, as well as other merchandise sales, and sales of its beers directly to customers.

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