New Age Beverages (NASDAQ:NBEV) Lifted to “Hold” at Zacks Investment Research
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. “
Other analysts have also issued research reports about the stock. Alliance Global Partners began coverage on shares of New Age Beverages in a research report on Tuesday, March 26th. They set a buy rating and a $8.00 price target on the stock. Maxim Group set a $7.00 price target on shares of Net 1 UEPS Technologies and gave the company a buy rating in a research report on Friday, May 10th. Northland Securities restated a buy rating and set a $10.00 price target on shares of Aytu Bioscience in a research report on Tuesday, June 4th. BidaskClub lowered shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, July 11th. Finally, ValuEngine upgraded shares of XPO Logistics from a strong sell rating to a sell rating in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $7.29.
New Age Beverages (NASDAQ:NBEV) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.07). The firm had revenue of $58.31 million for the quarter, compared to analyst estimates of $59.60 million. New Age Beverages had a negative net margin of 11.23% and a negative return on equity of 14.49%. As a group, equities analysts expect that New Age Beverages will post 0.08 EPS for the current year.
In other news, CEO Brent D. Willis sold 25,000 shares of New Age Beverages stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $4.59, for a total value of $114,750.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.90% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC lifted its stake in shares of New Age Beverages by 5,012.7% in the first quarter. Advisory Services Network LLC now owns 10,072 shares of the company’s stock worth $53,000 after buying an additional 9,875 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of New Age Beverages by 439.3% in the fourth quarter. Advisor Group Inc. now owns 10,785 shares of the company’s stock worth $56,000 after buying an additional 8,785 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in shares of New Age Beverages in the first quarter worth about $56,000. United Services Automobile Association purchased a new position in shares of New Age Beverages in the fourth quarter worth about $57,000. Finally, GSA Capital Partners LLP purchased a new position in shares of New Age Beverages in the fourth quarter worth about $63,000. Institutional investors and hedge funds own 13.86% of the company’s stock.
About New Age Beverages
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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