BidaskClub cut shares of New Age Beverages (NASDAQ:NBEV) from a sell rating to a strong sell rating in a research report sent to investors on Thursday, BidAskClub reports.

Several other research analysts have also recently commented on NBEV. Zacks Investment Research raised Hanmi Financial from a sell rating to a hold rating in a research report on Thursday, June 20th. ValuEngine raised XPO Logistics from a strong sell rating to a sell rating in a research report on Thursday, April 4th. Northland Securities reaffirmed a buy rating and issued a $10.00 target price on shares of Aytu Bioscience in a research report on Tuesday, June 4th. Maxim Group set a $7.00 target price on Net 1 UEPS Technologies and gave the stock a buy rating in a research report on Friday, May 10th. Finally, Compass Point assumed coverage on Randsburg International Gold in a research report on Monday, June 10th. They issued a buy rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. New Age Beverages currently has a consensus rating of Hold and an average price target of $7.29.

Shares of NBEV stock opened at $4.11 on Thursday. New Age Beverages has a one year low of $1.30 and a one year high of $9.99. The business has a fifty day moving average price of $4.71. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.24.

New Age Beverages (NASDAQ:NBEV) last issued its earnings results on Thursday, May 9th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $58.31 million during the quarter, compared to the consensus estimate of $59.60 million. New Age Beverages had a negative return on equity of 14.49% and a negative net margin of 11.23%. As a group, sell-side analysts predict that New Age Beverages will post 0.08 earnings per share for the current fiscal year.

In other New Age Beverages news, Director Reginald Kapteyn sold 18,000 shares of New Age Beverages stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $5.20, for a total transaction of $93,600.00. Following the completion of the transaction, the director now directly owns 68,812 shares of the company’s stock, valued at $357,822.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brent D. Willis sold 25,000 shares of New Age Beverages stock in a transaction on Monday, June 17th. The shares were sold at an average price of $4.59, for a total value of $114,750.00. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of NBEV. BlackRock Inc. lifted its holdings in shares of New Age Beverages by 54.1% during the fourth quarter. BlackRock Inc. now owns 1,146,398 shares of the company’s stock valued at $5,962,000 after acquiring an additional 402,432 shares during the period. Crosspoint Capital Strategies LLC bought a new position in shares of New Age Beverages in the first quarter valued at about $1,173,000. Geode Capital Management LLC raised its holdings in shares of New Age Beverages by 77.5% in the fourth quarter. Geode Capital Management LLC now owns 444,631 shares of the company’s stock valued at $2,312,000 after buying an additional 194,180 shares during the last quarter. Tibra Equities Europe Ltd bought a new position in shares of New Age Beverages in the first quarter valued at about $763,000. Finally, Raymond James & Associates raised its holdings in shares of New Age Beverages by 1,202.2% in the fourth quarter. Raymond James & Associates now owns 155,040 shares of the company’s stock valued at $806,000 after buying an additional 143,134 shares during the last quarter. 13.83% of the stock is owned by institutional investors.

New Age Beverages Company Profile

New Age Beverages Corporation, a healthy functional beverage company, engages in the development, marketing, sales, and distribution of beverages. The company offers ready to drink (RTD) tea, RTD coffee, kombucha, energy drinks, relaxation drinks, coconut waters, functional waters, and rehydration beverages, as well as functional medical beverages.

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Analyst Recommendations for New Age Beverages (NASDAQ:NBEV)

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