New Age Beverages (NASDAQ:NBEV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
A number of other equities research analysts also recently weighed in on NBEV. Aegis reissued a “buy” rating on shares of New Age Beverages in a report on Monday, December 4th. Maxim Group cut their price target on shares of New Age Beverages from $7.50 to $6.00 and set a “buy” rating for the company in a report on Friday, November 17th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. New Age Beverages presently has a consensus rating of “Buy” and an average price target of $5.63.
New Age Beverages (NASDAQ:NBEV) last posted its quarterly earnings data on Tuesday, November 14th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.03). New Age Beverages had a negative return on equity of 0.58% and a negative net margin of 0.41%. analysts expect that New Age Beverages will post 0.06 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cadence Capital Management LLC lifted its holdings in New Age Beverages by 63.4% in the 4th quarter. Cadence Capital Management LLC now owns 470,210 shares of the company’s stock valued at $1,020,000 after acquiring an additional 182,529 shares during the last quarter. Pacific Grove Capital LP lifted its stake in New Age Beverages by 33.5% during the third quarter. Pacific Grove Capital LP now owns 941,021 shares of the company’s stock valued at $3,209,000 after buying an additional 236,281 shares in the last quarter. HighTower Advisors LLC lifted its stake in New Age Beverages by 18.1% during the second 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 lifted its stake in New Age Beverages by 119.9% during the second 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. Finally, Vanguard Group Inc. purchased a new stake in New Age Beverages during the second quarter valued at about $3,358,000. 12.78% of the stock is owned by institutional investors.
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New Age Beverages 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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