New Age Beverage Corporation (NASDAQ:NBEV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “New Age Beverages Corporation is a beverage company. The company’s brand portfolio include XingTea (R) , Aspen Pure (R) , Artesian Water, Búcha (R) Live Kombucha, Marley One Drop (R), RTD Coffee and Marley Mellow Mood (TM). New Age Beverages Corporation, formerly known as American Brewing Company Inc., is based in USA. “

NBEV has been the topic of several other reports. Roth Capital initiated coverage on New Age Beverage Corporation in a research note on Thursday, July 27th. They issued a “buy” rating and a $7.50 target price on the stock. TheStreet lowered New Age Beverage Corporation from a “c” rating to a “d+” rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $6.00.

New Age Beverage Corporation (NASDAQ NBEV) opened at 2.54 on Thursday. New Age Beverage Corporation has a 12-month low of $1.45 and a 12-month high of $7.20. The company’s 50 day moving average price is $4.37 and its 200-day moving average price is $4.58. The firm has a market capitalization of $87.20 million, a price-to-earnings ratio of 149.41 and a beta of 4.53.

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In related news, Director Timothy J. Haas purchased 85,000 shares of New Age Beverage Corporation stock in a transaction dated Friday, August 25th. The stock was bought at an average cost of $3.49 per share, for a total transaction of $296,650.00. Following the completion of the transaction, the director now owns 30,000 shares in the company, valued at $104,700. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Neil Fallon sold 38,881 shares of New Age Beverage Corporation stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $4.53, for a total value of $176,130.93. Following the completion of the transaction, the director now owns 5,354,858 shares of the company’s stock, valued at $24,257,506.74. The disclosure for this sale can be found here. Insiders own 48.59% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NBEV. Russell Investments Group Ltd. grew its position in shares of New Age Beverage Corporation by 418.0% in the second quarter. Russell Investments Group Ltd. now owns 1,120,880 shares of the company’s stock valued at $5,749,000 after purchasing an additional 904,499 shares in the last quarter. Blair William & Co. IL purchased a new position in shares of New Age Beverage Corporation in the second quarter valued at $577,000. Timpani Capital Management LLC grew its position in shares of 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 purchasing an additional 93,817 shares in the last quarter. Northern Trust Corp purchased a new position in shares of New Age Beverage Corporation in the second quarter valued at $151,000. Finally, Vanguard Group Inc. purchased a new position in shares of New Age Beverage Corporation in the second quarter valued at $3,358,000. Institutional investors own 14.01% of the company’s stock.

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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