New Age Beverages (NBEV) Trading Up -4.3%
Shares of New Age Beverages (NASDAQ:NBEV) were up 4.3% during mid-day trading on Tuesday . The stock traded as high as $2.28 and last traded at $2.02. Approximately 3,541 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 689,338 shares. The stock had previously closed at $2.11.
Several analysts have recently issued reports on NBEV shares. ValuEngine raised shares of New Age Beverages from a “hold” rating to a “buy” rating in a research report on Saturday, April 7th. Zacks Investment Research raised shares of New Age Beverages from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. Finally, Maxim Group reduced their price objective on shares of New Age Beverages from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, April 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $5.08.
The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.83 and a current ratio of 1.46.
Large investors have recently modified their holdings of the stock. Deutsche Bank AG purchased a new position in New Age Beverages during the fourth quarter valued at approximately $227,000. Renaissance Technologies LLC purchased a new position in New Age Beverages during the fourth quarter valued at approximately $227,000. Timpani Capital Management LLC grew its stake in New Age Beverages by 56.3% during the first quarter. Timpani Capital Management LLC now owns 160,790 shares of the company’s stock valued at $389,000 after acquiring an additional 57,892 shares in the last quarter. Cadence Capital Management LLC grew its stake in New Age Beverages by 63.4% during the fourth quarter. Cadence Capital Management LLC now owns 470,210 shares of the company’s stock valued at $1,020,000 after acquiring an additional 182,529 shares in the last quarter. Finally, Pacific Grove Capital LP grew its stake in New Age Beverages by 78.5% in the 4th quarter. Pacific Grove Capital LP now owns 1,679,272 shares of the company’s stock worth $3,644,000 after buying an additional 738,251 shares in the last quarter. 11.94% of the stock is 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. It offers ready to drink tea, kombucha, energy drinks, and functional waters under XingTea, XingEnergy, Aspen Pure, and Bucha Live Kombucha brand names. The company offers its products directly, as well as through store delivery distribution systems in the United States and internationally.
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