New Age Beverages Corp (NASDAQ:NBEV)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $4.22, but opened at $4.58. New Age Beverages shares last traded at $4.51, with a volume of 39616 shares trading hands.

Several brokerages have recently commented on NBEV. Zacks Investment Research lowered New Age Beverages from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. ValuEngine raised New Age Beverages from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. BidaskClub raised New Age Beverages from a “sell” rating to a “hold” rating in a research note on Wednesday. Maxim Group lowered New Age Beverages from a “buy” rating to a “hold” rating in a research note on Friday, September 21st. Finally, Roth Capital upped their price target on New Age Beverages from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $5.19.

The company has a current ratio of 15.69, a quick ratio of 12.38 and a debt-to-equity ratio of 0.04.

New Age Beverages (NASDAQ:NBEV) last announced its quarterly earnings results on Wednesday, November 14th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). New Age Beverages had a negative net margin of 29.08% and a negative return on equity of 23.49%. The business had revenue of $13.24 million during the quarter, compared to analyst estimates of $13.54 million. On average, equities research analysts expect that New Age Beverages Corp will post -0.24 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of NBEV. Nepsis Inc. purchased a new stake in shares of New Age Beverages in the 2nd quarter valued at $3,252,000. BlackRock Inc. raised its holdings in shares of New Age Beverages by 425.7% in the 3rd quarter. BlackRock Inc. now owns 743,966 shares of the company’s stock valued at $3,980,000 after buying an additional 602,434 shares during the period. Vanguard Group Inc. raised its holdings in shares of New Age Beverages by 75.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,357,536 shares of the company’s stock valued at $7,263,000 after buying an additional 584,381 shares during the period. Jane Street Group LLC purchased a new stake in shares of New Age Beverages in the 3rd quarter valued at $1,081,000. Finally, Bank of Montreal Can purchased a new stake in shares of New Age Beverages in the 3rd quarter valued at $202,000. Hedge funds and other institutional investors own 6.45% of the company’s stock.

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About New Age Beverages (NASDAQ:NBEV)

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.

Further Reading: Return on Equity (ROE)

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