BidaskClub cut shares of New Age Beverages (NASDAQ:NBEV) from a sell rating to a strong sell rating in a research note published on Thursday morning, BidAskClub reports.

A number of other research analysts have also weighed in on the company. Alliance Global Partners started coverage on New Age Beverages in a research report on Tuesday, March 26th. They set a buy rating and a $8.00 price objective for the company. Maxim Group set a $7.00 price target on shares of Net 1 UEPS Technologies and gave the company a buy rating in a report on Friday, May 10th. Compass Point began coverage on shares of Randsburg International Gold in a report on Monday, June 10th. They issued a buy rating for the company. ValuEngine raised shares of XPO Logistics from a strong sell rating to a sell rating in a report on Thursday, April 4th. Finally, Zacks Investment Research raised shares of Hanmi Financial from a sell rating to a hold rating in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $7.29.

Shares of New Age Beverages stock traded down $0.16 during trading on Thursday, reaching $4.11. 2,242,526 shares of the stock traded hands, compared to its average volume of 2,581,139. The firm’s fifty day moving average price is $4.74. The company has a quick ratio of 1.24, a current ratio of 1.63 and a debt-to-equity ratio of 0.25. New Age Beverages has a 52-week low of $1.30 and a 52-week high of $9.99.

New Age Beverages (NASDAQ:NBEV) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.07). The firm had revenue of $58.31 million for the quarter, compared to analysts’ expectations of $59.60 million. New Age Beverages had a negative net margin of 11.23% and a negative return on equity of 14.49%. On average, equities analysts expect that New Age Beverages will post 0.08 EPS for the current fiscal year.

In other news, Director Reginald Kapteyn sold 18,000 shares of New Age Beverages stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $5.20, for a total transaction of $93,600.00. Following the completion of the sale, the director now owns 68,812 shares of the company’s stock, valued at $357,822.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brent D. Willis sold 25,000 shares of New Age Beverages stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $4.59, for a total transaction of $114,750.00. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd grew its stake in shares of New Age Beverages by 47.9% in the 2nd quarter. WINTON GROUP Ltd now owns 28,935 shares of the company’s stock valued at $135,000 after buying an additional 9,374 shares during the period. South Texas Money Management Ltd. acquired a new position in shares of New Age Beverages in the 2nd quarter worth approximately $67,000. B. Riley Wealth Management Inc. acquired a new position in shares of New Age Beverages in the 1st quarter worth approximately $127,000. Advisory Services Network LLC lifted its holdings in shares of New Age Beverages by 5,012.7% in the 1st quarter. Advisory Services Network LLC now owns 10,072 shares of the company’s stock worth $53,000 after acquiring an additional 9,875 shares during the last quarter. Finally, Crosspoint Capital Strategies LLC acquired a new position in shares of New Age Beverages in the 1st quarter worth approximately $1,173,000. 13.83% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for New Age Beverages (NASDAQ:NBEV)

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