Shares of Craft Brew Alliance Inc. (NASDAQ:BREW) shot up 7.7% during mid-day trading on Thursday . The company traded as high as $12.39 and last traded at $12.39, with a volume of 76,024 shares traded. The stock had previously closed at $11.50.

A number of brokerages have recently issued reports on BREW. Zacks Investment Research lowered Craft Brew Alliance from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th. Sidoti raised Craft Brew Alliance from a “neutral” rating to a “buy” rating in a research report on Thursday. Finally, Citigroup Inc. dropped their target price on Craft Brew Alliance from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 15th.

The company has a 50-day moving average price of $11.19 and a 200-day moving average price of $9.12. The stock has a market capitalization of $262.86 million and a price-to-earnings ratio of 1522.22.

Craft Brew Alliance (NASDAQ:BREW) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by $0.02. During the same quarter in the prior year, the company posted $0.07 EPS. The firm had revenue of $62.28 million for the quarter, compared to analyst estimates of $61.52 million. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts anticipate that Craft Brew Alliance Inc. will post $0.20 EPS for the current fiscal year.

An institutional investor recently raised its position in Craft Brew Alliance stock. Dimensional Fund Advisors LP raised its position in Craft Brew Alliance Inc. (NASDAQ:BREW) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 approximately 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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