New Age Beverage (NASDAQ:NBEV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.
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 equities research analysts have also issued reports on the stock. Maxim Group decreased their price target on shares of New Age Beverage from $7.50 to $6.00 and set a “buy” rating for the company in a research note on Friday, November 17th. TheStreet lowered shares of New Age Beverage from a “c” rating to a “d+” rating in a research note on Monday, August 7th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $5.63.
A number of institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC grew its stake in New Age Beverage by 18.1% in the 2nd quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock valued at $114,000 after buying an additional 3,428 shares in the last quarter. Virtu KCG Holdings LLC grew its stake in New Age Beverage by 119.9% in the 2nd 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 in the last quarter. Northern Trust Corp purchased a new position in New Age Beverage in the 2nd quarter valued at approximately $151,000. Timpani Capital Management LLC grew its stake in New Age Beverage by 43.7% in the 2nd 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 in the last quarter. Finally, Blair William & Co. IL purchased a new position in New Age Beverage in the 2nd quarter valued at approximately $577,000. Institutional investors and hedge funds own 12.88% of the company’s stock.
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New Age Beverage 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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