Shares of New Age Beverage Corporation (NASDAQ:NBEV) have received an average broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus target price of $8.33 for the company and are predicting that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also assigned New Age Beverage Corporation an industry rank of 98 out of 265 based on the ratings given to its competitors.

NBEV has been the subject of several analyst reports. Zacks Investment Research cut shares of New Age Beverage Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. TheStreet cut shares of New Age Beverage Corporation from a “c” rating to a “d+” rating in a research note on Monday, August 7th. Roth Capital initiated coverage on shares of New Age Beverage Corporation in a research note on Thursday, July 27th. They issued a “buy” rating and a $7.50 price target for the company. Finally, Maxim Group increased their price target on shares of New Age Beverage Corporation from $6.00 to $7.50 and gave the company a “buy” rating in a research note on Monday, May 22nd.

In other news, Director Neil Fallon sold 38,881 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 5,354,858 shares in the company, valued at approximately $24,257,506.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy J. Haas acquired 85,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was bought at an average price of $3.49 per share, for a total transaction of $296,650.00. Following the completion of the acquisition, the director now owns 30,000 shares in the company, valued at approximately $104,700. The disclosure for this purchase can be found here. Corporate insiders own 48.59% of the company’s stock.

Hedge funds have recently modified their holdings of the company. HighTower Advisors LLC lifted its holdings in shares of New Age Beverage Corporation by 18.1% in the 2nd quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock worth $114,000 after acquiring an additional 3,428 shares during the last quarter. Northern Trust Corp acquired a new position in shares of New Age Beverage Corporation in the 2nd quarter worth approximately $151,000. Virtu KCG Holdings LLC lifted its holdings in shares of New Age Beverage Corporation by 119.9% in the 2nd quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock worth $170,000 after acquiring an additional 18,189 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of New Age Beverage Corporation in the 2nd quarter worth approximately $577,000. Finally, EAM Investors LLC acquired a new position in shares of New Age Beverage Corporation in the 2nd quarter worth approximately $1,104,000. Hedge funds and other institutional investors own 14.01% of the company’s stock.

Shares of New Age Beverage Corporation (NASDAQ NBEV) traded up 2.36% during mid-day trading on Friday, reaching $3.90. 250,037 shares of the company’s stock traded hands. New Age Beverage Corporation has a 12-month low of $1.28 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 stock has a market capitalization of $133.89 million, a PE ratio of 229.41 and a beta of 4.74.

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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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