Zacks Investment Research upgraded shares of New Age Beverages (NASDAQ:NBEV) from a hold rating to a buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $4.75 price objective on the stock.

According to Zacks, “New Age Beverages Corporation is a beverage company. The company’s brand portfolio include XingTea (R) , Aspen Pure (R) , Artesian Water, BĂșcha (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. “

Several other research analysts have also recently issued reports on the stock. ValuEngine raised shares of New Age Beverages from a hold rating to a buy rating in a report on Friday, September 28th. Maxim Group cut shares of New Age Beverages from a buy rating to a hold rating in a report on Friday, September 21st. Finally, Northland Securities assumed coverage on shares of New Age Beverages in a report on Tuesday, September 4th. They set 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 stock. The stock has a consensus rating of Buy and a consensus target price of $3.58.

Shares of NASDAQ NBEV traded up $0.12 during midday trading on Tuesday, reaching $3.94. The company had a trading volume of 1,419,125 shares, compared to its average volume of 10,320,539. New Age Beverages has a 1 year low of $1.30 and a 1 year high of $9.99. The company has a quick ratio of 12.38, a current ratio of 15.69 and a debt-to-equity ratio of 0.04.

New Age Beverages (NASDAQ:NBEV) last issued its earnings results on Wednesday, November 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). New Age Beverages had a negative return on equity of 23.49% and a negative net margin of 29.08%. The business had revenue of $13.24 million for the quarter, compared to analysts’ expectations of $13.54 million. On average, research analysts expect that New Age Beverages will post -0.24 earnings per share for the current year.

In other New Age Beverages news, CEO Brent D. Willis purchased 78,000 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were purchased at an average cost of $1.28 per share, for a total transaction of $99,840.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert J. Evans purchased 100,000 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were acquired at an average price of $1.28 per share, for a total transaction of $128,000.00. Following the completion of the transaction, the director now directly owns 69,232 shares of the company’s stock, valued at approximately $88,616.96. The disclosure for this purchase can be found here. 20.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in New Age Beverages by 112.0% during the third quarter. Bank of New York Mellon Corp now owns 26,004 shares of the company’s stock worth $139,000 after acquiring an additional 13,738 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of New Age Beverages in the 3rd quarter valued at $202,000. Jane Street Group LLC acquired a new position in shares of New Age Beverages in the 3rd quarter valued at $1,081,000. BlackRock Inc. boosted its holdings in shares of New Age Beverages by 425.7% in the 3rd quarter. BlackRock Inc. now owns 743,966 shares of the company’s stock valued at $3,980,000 after buying an additional 602,434 shares in the last quarter. Finally, Nepsis Inc. acquired a new position in shares of New Age Beverages in the 2nd quarter valued at $3,252,000. Hedge funds and other institutional investors own 9.10% of the company’s stock.

New Age Beverages Company Profile

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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