New Age Beverages Corp (NASDAQ:NBEV) traded down 5.6% on Wednesday . The company traded as low as $6.80 and last traded at $6.60. 71,294 shares were traded during trading, a decline of 99% from the average session volume of 5,651,936 shares. The stock had previously closed at $6.99.

A number of equities research analysts have weighed in on the stock. ValuEngine upgraded shares of New Age Beverages from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. Zacks Investment Research raised New Age Beverages from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Maxim Group cut New Age Beverages from a “buy” rating to a “hold” rating in a report on Friday, September 21st. Finally, Northland Securities initiated coverage on New Age Beverages in a report on Tuesday, September 4th. They issued an “outperform” rating and a $3.00 price target for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $2.92.

The company has a current ratio of 1.48, a quick ratio of 0.74 and a debt-to-equity ratio of 0.07.

New Age Beverages (NASDAQ:NBEV) last announced its quarterly earnings data on Tuesday, August 14th. The company reported ($0.09) earnings per share for the quarter. The firm had revenue of $13.36 million for the quarter. New Age Beverages had a negative return on equity of 21.60% and a negative net margin of 22.14%. Sell-side analysts predict that New Age Beverages Corp will post -0.2 EPS for the current year.

In related news, CEO Brent D. Willis purchased 78,000 shares of the stock in a transaction dated Friday, August 24th. The stock was bought at an average cost of $1.28 per share, with a total value of $99,840.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert J. Evans purchased 100,000 shares of the stock in a transaction dated Friday, August 24th. The stock was bought at an average cost of $1.28 per share, with a total value of $128,000.00. Following the completion of the purchase, the director now owns 69,232 shares in the company, valued at $88,616.96. The disclosure for this purchase can be found here. Insiders own 20.00% of the company’s stock.

A hedge fund recently bought a new stake in New Age Beverages stock. Bank of Montreal Can purchased a new stake in New Age Beverages Corp (NASDAQ:NBEV) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 37,800 shares of the company’s stock, valued at approximately $202,000. Bank of Montreal Can owned about 0.09% of New Age Beverages at the end of the most recent reporting period. Hedge funds and other institutional investors own 11.29% of the company’s stock.

About New Age Beverages (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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