New Age Beverages Corp (NASDAQ:NBEV) gapped down prior to trading on Tuesday . The stock had previously closed at $4.42, but opened at $4.09. New Age Beverages shares last traded at $3.82, with a volume of 10629756 shares changing hands.

A number of research firms have recently weighed in on NBEV. Zacks Investment Research lowered New Age Beverages from a “buy” rating to a “hold” rating in a research note on Wednesday. Maxim Group lowered their target price on New Age Beverages from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. ValuEngine raised New Age Beverages from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. Finally, Northland Securities began coverage on New Age Beverages in a research note on Tuesday, September 4th. They issued an “outperform” rating and a $3.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. New Age Beverages has a consensus rating of “Buy” and an average target price of $3.58.

The company has a debt-to-equity ratio of 0.04, a current ratio of 15.69 and a quick ratio of 12.38.

New Age Beverages (NASDAQ:NBEV) last released its earnings results on Wednesday, November 14th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). New Age Beverages had a negative net margin of 29.08% and a negative return on equity of 23.49%. The company had revenue of $13.24 million during the quarter, compared to the consensus estimate of $13.54 million. Analysts forecast that New Age Beverages Corp will post -0.24 EPS for the current fiscal year.

In other New Age Beverages news, CEO Brent D. Willis purchased 78,000 shares of the stock in a transaction on Friday, August 24th. The stock was acquired at an average price 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 on Friday, August 24th. The shares were acquired at an average cost of $1.28 per share, with a total value of $128,000.00. Following the transaction, the director now directly owns 69,232 shares in the company, valued at $88,616.96. The disclosure for this purchase can be found here. Corporate insiders own 20.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBEV. Nepsis Inc. bought a new position in New Age Beverages during the 2nd quarter valued at approximately $3,252,000. BlackRock Inc. raised its position in New Age Beverages by 425.7% during the 3rd quarter. BlackRock Inc. now owns 743,966 shares of the company’s stock valued at $3,980,000 after purchasing an additional 602,434 shares during the last quarter. Jane Street Group LLC bought a new position in New Age Beverages during the 3rd quarter valued at approximately $1,081,000. Bank of Montreal Can bought a new position in New Age Beverages during the 3rd quarter valued at approximately $202,000. Finally, Bank of New York Mellon Corp raised its position in New Age Beverages by 112.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 26,004 shares of the company’s stock valued at $139,000 after purchasing an additional 13,738 shares during the last quarter. 9.10% of the stock is owned by institutional investors and hedge funds.

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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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