ValuEngine upgraded shares of New Age Beverages (NASDAQ:NBEV) from a hold rating to a buy rating in a research note released on Friday morning, ValuEngine reports.

A number of other equities analysts have also recently weighed in on NBEV. Zacks Investment Research raised New Age Beverages from a sell rating to a hold rating in a report on Thursday, September 12th. Compass Point assumed coverage on New Age Beverages in a report on Monday, June 10th. They set a buy rating and a $9.00 price objective on the stock. BidaskClub cut New Age Beverages from a sell rating to a strong sell rating in a report on Thursday, July 11th. Northland Securities reissued a hold rating and set a $5.00 price objective on shares of New Age Beverages in a report on Thursday, August 8th. Finally, TheStreet cut New Age Beverages from a c- rating to a d+ rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $7.55.

NASDAQ:NBEV opened at $2.88 on Friday. The business’s 50-day moving average price is $3.32 and its two-hundred day moving average price is $4.53. New Age Beverages has a twelve month low of $2.82 and a twelve month high of $9.99. The company has a quick ratio of 1.24, a current ratio of 1.65 and a debt-to-equity ratio of 0.28.

New Age Beverages (NASDAQ:NBEV) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.14). New Age Beverages had a negative net margin of 12.78% and a negative return on equity of 17.70%. The business had revenue of $66.35 million during the quarter, compared to analysts’ expectations of $64.43 million. During the same period in the previous year, the business earned ($0.09) EPS. The business’s revenue was up 396.6% on a year-over-year basis. On average, analysts expect that New Age Beverages will post -0.34 EPS for the current year.

In related news, CEO Brent D. Willis sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $3.27, for a total transaction of $81,750.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 75,000 shares of company stock worth $262,750. 4.90% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of New Age Beverages by 279.0% during the 2nd quarter. BlackRock Inc. now owns 4,746,407 shares of the company’s stock valued at $22,119,000 after buying an additional 3,494,062 shares in the last quarter. Vanguard Group Inc. increased its stake in New Age Beverages by 34.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,645,591 shares of the company’s stock worth $16,989,000 after purchasing an additional 928,126 shares during the period. Morgan Stanley increased its stake in New Age Beverages by 164.0% in the 2nd quarter. Morgan Stanley now owns 584,155 shares of the company’s stock worth $2,722,000 after purchasing an additional 362,903 shares during the period. River & Mercantile Asset Management LLP purchased a new position in New Age Beverages in the 2nd quarter worth approximately $1,724,000. Finally, Crosspoint Capital Strategies LLC purchased a new position in New Age Beverages in the 1st quarter worth approximately $1,173,000. 22.22% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for New Age Beverages (NASDAQ:NBEV)

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