Zacks: New Age Beverage Corporation (NBEV) Given $8.33 Average Target Price by Brokerages
New Age Beverage Corporation (NASDAQ:NBEV) has received an average broker rating score of 1.00 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation.
Brokers have set a one year consensus price target of $8.33 for the company and are anticipating that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also given New Age Beverage Corporation an industry rank of 206 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have recently weighed in on NBEV shares. Zacks Investment Research lowered shares of New Age Beverage Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. TheStreet lowered shares of New Age Beverage Corporation from a “c” rating to a “d+” rating in a research note on Monday, August 7th. Finally, Roth Capital started coverage on shares of New Age Beverage Corporation in a research note on Thursday, July 27th. They set a “buy” rating and a $7.50 target price on the stock.
Shares of New Age Beverage Corporation (NASDAQ:NBEV) opened at $2.41 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 2.38.
In other New Age Beverage Corporation news, Director Timothy J. Haas acquired 85,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were acquired at an average price of $3.49 per share, with a total value of $296,650.00. Following the completion of the purchase, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $104,700. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Neil Fallon sold 38,881 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $4.53, for a total transaction of $176,130.93. Following the sale, the director now directly owns 5,354,858 shares in the company, valued at approximately $24,257,506.74. The disclosure for this sale can be found here. Insiders own 48.59% of the company’s stock.
Large investors have recently bought and sold shares of the stock. HighTower Advisors LLC boosted its stake in New Age Beverage Corporation by 18.1% during the second quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock worth $114,000 after acquiring an additional 3,428 shares in the last quarter. Northern Trust Corp bought a new stake in New Age Beverage Corporation during the second quarter worth about $151,000. Virtu KCG Holdings LLC boosted its stake in New Age Beverage Corporation by 119.9% during the second 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 in the last quarter. Blair William & Co. IL bought a new stake in New Age Beverage Corporation during the second quarter worth about $577,000. Finally, EAM Investors LLC bought a new stake in New Age Beverage Corporation during the second quarter worth about $1,104,000. 14.04% of the stock is currently owned by institutional investors and hedge funds.
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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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