New Age Beverage Corporation (NASDAQ:NBEV)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $2.92 and last traded at $2.92, with a volume of 814,204 shares traded. The stock had previously closed at $3.19.

A number of brokerages have recently commented on NBEV. Roth Capital began coverage on New Age Beverage Corporation in a research report on Thursday, July 27th. They set a “buy” rating and a $7.50 price objective for the company. TheStreet downgraded New Age Beverage Corporation from a “c” rating to a “d+” rating in a research report on Monday, August 7th. Finally, Zacks Investment Research raised New Age Beverage Corporation from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research report on Wednesday, August 2nd. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $6.44.

The firm has a 50 day moving average of $4.37 and a 200-day moving average of $4.58. The firm has a market capitalization of $99.56 million, a PE ratio of 170.59 and a beta of 4.53.

In other news, Director Neil Fallon sold 38,881 shares of New Age Beverage Corporation stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $4.53, for a total value of $176,130.93. Following the completion of the transaction, the director now owns 5,354,858 shares in the company, valued at approximately $24,257,506.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy J. Haas bought 85,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was purchased at an average price of $3.49 per share, with a total value of $296,650.00. Following the transaction, the director now owns 30,000 shares in the company, valued at approximately $104,700. The disclosure for this purchase can be found here. 48.59% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC grew its position in shares of New Age Beverage Corporation by 18.1% in the 2nd quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock worth $114,000 after acquiring an additional 3,428 shares in the last quarter. Northern Trust Corp acquired a new position in shares of New Age Beverage Corporation in the 2nd quarter worth approximately $151,000. Virtu KCG Holdings LLC grew its position in shares of New Age Beverage Corporation by 119.9% in the 2nd quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock worth $170,000 after acquiring an additional 18,189 shares in the last quarter. Blair William & Co. IL acquired a new position in shares of New Age Beverage Corporation in the 2nd quarter worth approximately $577,000. Finally, EAM Investors LLC acquired a new position in shares of New Age Beverage Corporation in the 2nd quarter worth approximately $1,104,000. Institutional investors own 14.01% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “New Age Beverage Corporation (NBEV) Sets New 12-Month Low at $2.92” was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another website, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this article can be viewed at https://www.watchlistnews.com/new-age-beverage-corporation-nbev-sets-new-12-month-low-at-2-92/1613374.html.

About New Age Beverage Corporation

The New Age Beverage Corporation, formerly Bucha, Inc, is a healthy functional beverage company. The Company is the owner of XingTea, XingEnergy, Aspen Pure and the Bucha Live Kombucha brands. The Company’s bucha Live Kombucha is a gluten free, organic certified, sparkling kombucha tea and is distributed in health and grocery chains across North America.

Receive News & Ratings for New Age Beverage Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Age Beverage Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.