New Age Beverage Corporation (NASDAQ:NBEV) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 550,244 shares, a decline of 42.2% from the July 14th total of 952,740 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average trading volume of 163,472 shares, the days-to-cover ratio is presently 3.4 days.

In other New Age Beverage Corporation news, insider Julie Anderson sold 300,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $5.79, for a total value of $1,737,000.00. Following the transaction, the insider now owns 1,705,093 shares in the company, valued at $9,872,488.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 48.59% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in NBEV. Virtu KCG Holdings LLC raised its stake in New Age Beverage Corporation by 119.9% in the second quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock valued at $170,000 after buying an additional 18,189 shares during the period. EAM Investors LLC purchased a new stake in New Age Beverage Corporation during the second quarter valued at about $1,104,000. Vanguard Group Inc. purchased a new stake in New Age Beverage Corporation during the second quarter valued at about $3,358,000. Northern Trust Corp purchased a new stake in New Age Beverage Corporation during the second quarter valued at about $151,000. Finally, Timpani Capital Management LLC raised its stake in New Age Beverage Corporation by 43.7% in the second quarter. Timpani Capital Management LLC now owns 308,471 shares of the company’s stock valued at $1,582,000 after buying an additional 93,817 shares during the period. Hedge funds and other institutional investors own 12.05% of the company’s stock.

New Age Beverage Corporation (NASDAQ:NBEV) opened at 4.84 on Friday. The stock’s market cap is $151.53 million. New Age Beverage Corporation has a 52-week low of $1.28 and a 52-week high of $7.20. The firm has a 50 day moving average of $4.83 and a 200-day moving average of $4.67.

NBEV has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of New Age Beverage Corporation from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a research report on Wednesday, August 2nd. Roth Capital initiated coverage on shares of New Age Beverage Corporation in a research report on Thursday, July 27th. They issued a “buy” rating and a $7.50 price objective on the stock. Maxim Group boosted their price objective on shares of New Age Beverage Corporation from $6.00 to $7.50 and gave the company a “buy” rating in a research report on Monday, May 22nd. Aegis initiated coverage on shares of New Age Beverage Corporation in a research report on Monday, May 1st. They issued a “buy” rating and a $6.25 price objective on the stock. Finally, TheStreet cut shares of New Age Beverage Corporation from a “c” rating to a “d+” rating in a research report on Monday, August 7th. Four investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $6.69.

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About New Age Beverage Corporation

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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