New Age Beverages (NBEV) Upgraded to “Hold” by Zacks Investment Research
New Age Beverages (NASDAQ:NBEV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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 topic of a number of other reports. Aegis reaffirmed a “buy” rating on shares of New Age Beverages in a research report on Monday, December 4th. Maxim Group dropped their price target on New Age Beverages from $7.50 to $6.00 and set a “buy” rating on the stock in a research report on Friday, November 17th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. New Age Beverages presently has a consensus rating of “Buy” and an average price target of $5.63.
New Age Beverages (NASDAQ:NBEV) last announced its earnings results on Tuesday, November 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). New Age Beverages had a negative return on equity of 0.58% and a negative net margin of 0.41%. research analysts anticipate that New Age Beverages will post 0.06 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Cadence Capital Management LLC raised its position in New Age Beverages by 63.4% during the fourth quarter. Cadence Capital Management LLC now owns 470,210 shares of the company’s stock valued at $1,020,000 after buying an additional 182,529 shares during the period. Pacific Grove Capital LP raised its position in New Age Beverages by 33.5% during the third quarter. Pacific Grove Capital LP now owns 941,021 shares of the company’s stock valued at $3,209,000 after buying an additional 236,281 shares during the period. HighTower Advisors LLC raised its position in New Age Beverages by 18.1% during the second quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock valued at $114,000 after buying an additional 3,428 shares during the period. Virtu KCG Holdings LLC raised its position in New Age Beverages by 119.9% during the second quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock valued at $170,000 after buying an additional 18,189 shares during the period. Finally, Vanguard Group Inc. acquired a new position in New Age Beverages during the second quarter valued at $3,358,000. 12.78% of the stock is currently owned by hedge funds and other institutional investors.
About New Age Beverages
The New Age Beverage Corporation, formerly Bucha, Inc, is a healthy functional beverage company. The Company is the owner of XingTea, XingEnergy, Aspen Pure and the Bucha Live Kombucha brands. The Company’s bucha Live Kombucha is a gluten free, organic certified, sparkling kombucha tea and is distributed in health and grocery chains across North America.
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