New Age Beverages Corp (NASDAQ:NBEV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

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. “

Several other brokerages also recently weighed in on NBEV. TheStreet downgraded New Age Beverages Corp from a “c” rating to a “d+” rating in a report on Monday, August 7th. Roth Capital initiated coverage on New Age Beverages Corp in a report on Thursday, July 27th. They issued a “buy” rating and a $7.50 price target on the stock. Finally, Maxim Group increased their price target on New Age Beverages Corp from $6.00 to $7.50 and gave the stock a “buy” rating in a report on Monday, May 22nd. Four investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $6.44.

New Age Beverages Corp (NBEV) traded down 2.25% during midday trading on Friday, hitting $3.91. The company had a trading volume of 271,584 shares. The company has a market capitalization of $134.23 million, a P/E ratio of 230.00 and a beta of 4.74. New Age Beverages Corp has a 52 week low of $1.28 and a 52 week high of $7.20. The stock has a 50 day moving average price of $4.37 and a 200 day moving average price of $4.58.

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In related news, Director Neil Fallon sold 38,881 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $4.53, for a total value of $176,130.93. Following the transaction, the director now owns 5,354,858 shares of the company’s stock, valued at $24,257,506.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy J. Haas acquired 85,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average cost of $3.49 per share, for a total transaction of $296,650.00. Following the purchase, the director now owns 30,000 shares of the company’s stock, valued at $104,700. The disclosure for this purchase can be found here. 48.59% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its stake in New Age Beverages Corp by 418.0% in the second quarter. Russell Investments Group Ltd. now owns 1,120,880 shares of the company’s stock worth $5,749,000 after purchasing an additional 904,499 shares in the last quarter. HighTower Advisors LLC grew its stake in New Age Beverages Corp by 18.1% in the second quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock worth $114,000 after purchasing an additional 3,428 shares in the last quarter. Virtu KCG Holdings LLC grew its stake in New Age Beverages Corp by 119.9% in the second quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock worth $170,000 after purchasing an additional 18,189 shares in the last quarter. EAM Investors LLC bought a new position in New Age Beverages Corp in the second quarter worth approximately $1,104,000. Finally, Vanguard Group Inc. bought a new position in New Age Beverages Corp in the second quarter worth approximately $3,358,000. 14.01% of the stock is currently owned by institutional investors.

New Age Beverages Corp 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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