New Age Beverages (NBEV) Rating Lowered to Hold at Maxim Group
Maxim Group lowered shares of New Age Beverages (NASDAQ:NBEV) from a buy rating to a hold rating in a research note published on Friday, Marketbeat.com reports.
A number of other brokerages have also recently commented on NBEV. ValuEngine upgraded shares of New Age Beverages from a hold rating to a buy rating in a research report on Friday. Zacks Investment Research upgraded shares of New Age Beverages from a sell rating to a hold rating in a research report on Wednesday, July 25th. Finally, Northland Securities began coverage on shares of New Age Beverages in a research report on Tuesday, September 4th. They issued an outperform rating and a $3.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. New Age Beverages presently has a consensus rating of Hold and an average target price of $2.92.
Shares of NASDAQ NBEV opened at $3.96 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.48 and a debt-to-equity ratio of 0.07. New Age Beverages has a 52 week low of $1.30 and a 52 week high of $9.99.
A hedge fund recently bought a new stake in New Age Beverages stock. Nepsis Inc. acquired a new position in shares of New Age Beverages Corp (NASDAQ:NBEV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,739,190 shares of the company’s stock, valued at approximately $3,252,000. New Age Beverages comprises 1.6% of Nepsis Inc.’s investment portfolio, making the stock its 27th largest holding. Nepsis Inc. owned 4.43% of New Age Beverages at the end of the most recent quarter. 9.72% of the stock is owned by institutional investors and hedge funds.
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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