New Age Beverages (NBEV) Stock Price Up 12.6%
New Age Beverages Corp (NASDAQ:NBEV) shares rose 12.6% during trading on Tuesday . The company traded as high as $5.19 and last traded at $4.46. Approximately 29,712,900 shares changed hands during mid-day trading, an increase of 824% from the average daily volume of 3,216,099 shares. The stock had previously closed at $3.96.
NBEV has been the subject of a number of recent research reports. Northland Securities initiated coverage on New Age Beverages in a research note on Tuesday, September 4th. They issued an “outperform” rating and a $3.00 target price for the company. Maxim Group lowered New Age Beverages from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research lowered New Age Beverages from a “hold” rating to a “sell” rating in a research note on Saturday, August 18th. Finally, ValuEngine upgraded New Age Beverages from a “hold” rating to a “buy” rating in a research note on Friday. 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 stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $2.92.
The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.74 and a current ratio of 1.48.
An institutional investor recently bought a new position in New Age Beverages stock. Nepsis Inc. purchased a new stake in New Age Beverages Corp (NASDAQ:NBEV) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,739,190 shares of the company’s stock, valued at approximately $3,252,000. New Age Beverages accounts for about 1.6% of Nepsis Inc.’s portfolio, making the stock its 27th largest position. Nepsis Inc. owned about 4.43% of New Age Beverages as of its most recent filing with the SEC. 9.72% of the stock is owned by institutional investors and hedge funds.
New Age Beverages Company Profile (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: Book Value Per Share in Stock Trading
Receive News & Ratings for New Age Beverages Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Age Beverages and related companies with MarketBeat.com's FREE daily email newsletter.