Roth Capital started coverage on shares of New Age Beverage Corporation (NASDAQ:NBEV) in a report released on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $7.50 price target on the stock.

A number of other research analysts have also recently weighed in on NBEV. Aegis assumed coverage on New Age Beverage Corporation in a research report on Monday, May 1st. They set a buy rating and a $6.25 price objective on the stock. Maxim Group boosted their price target on New Age Beverage Corporation from $6.00 to $7.50 and gave the stock a buy rating in a report on Monday, May 22nd.

New Age Beverage Corporation (NBEV) traded down 0.0654% on Thursday, hitting $4.8868. 42,771 shares of the company traded hands. The firm’s 50 day moving average price is $5.19 and its 200 day moving average price is $4.62. The firm’s market capitalization is $152.99 million. New Age Beverage Corporation has a 1-year low of $1.28 and a 1-year high of $7.20.

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In related news, insider Julie Anderson sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $5.79, for a total value of $1,737,000.00. Following the transaction, the insider now directly owns 1,705,093 shares of the company’s stock, valued at approximately $9,872,488.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 48.59% of the stock is currently owned by insiders.

An institutional investor recently raised its position in New Age Beverage Corporation stock. Russell Investments Group Ltd. raised its position in New Age Beverage Corporation (NASDAQ:NBEV) by 418.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,120,880 shares of the company’s stock after buying an additional 904,499 shares during the period. Russell Investments Group Ltd. owned about 3.26% of New Age Beverage Corporation worth $5,749,000 as of its most recent filing with the SEC. 12.05% of the stock is owned by hedge funds and other institutional investors.

New Age Beverage Corporation Company Profile

The New Age Beverage Corporation, formerly Bucha, Inc, is a healthy functional beverage company. The Company is the owner of XingTea, XingEnergy, Aspen Pure and the Bucha Live Kombucha brands. The Company’s bucha Live Kombucha is a gluten free, organic certified, sparkling kombucha tea and is distributed in health and grocery chains across North America.

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