New Age Beverages (NASDAQ:NBEV) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
Other equities analysts have also recently issued reports about the company. Maxim Group dropped their price objective on New Age Beverages from $5.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 16th. ValuEngine upgraded New Age Beverages from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. Zacks Investment Research upgraded New Age Beverages from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research report on Tuesday, November 20th. Roth Capital upped their price target on New Age Beverages from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Northland Securities assumed coverage on New Age Beverages in a research note on Tuesday, September 4th. They set an “outperform” rating and a $3.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $5.19.
Shares of NASDAQ NBEV opened at $4.78 on Wednesday. The company has a current ratio of 15.69, a quick ratio of 12.38 and a debt-to-equity ratio of 0.04. New Age Beverages has a fifty-two week low of $1.30 and a fifty-two week high of $9.99.
A number of hedge funds have recently bought and sold shares of NBEV. Nepsis Inc. acquired a new position in New Age Beverages during the 2nd quarter worth approximately $3,252,000. BlackRock Inc. raised its stake in New Age Beverages by 425.7% during the 3rd quarter. BlackRock Inc. now owns 743,966 shares of the company’s stock worth $3,980,000 after buying an additional 602,434 shares during the period. Vanguard Group Inc. raised its stake in New Age Beverages by 75.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,357,536 shares of the company’s stock worth $7,263,000 after buying an additional 584,381 shares during the period. Jane Street Group LLC acquired a new position in New Age Beverages during the 3rd quarter worth approximately $1,081,000. Finally, Bank of Montreal Can acquired a new position in New Age Beverages during the 3rd quarter worth approximately $202,000. 6.45% of the stock is currently owned by institutional investors and hedge funds.
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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