New Age Beverages (NASDAQ:NBEV) posted its quarterly earnings results on Thursday. The company reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.14), Briefing.com reports. The firm had revenue of $66.35 million for the quarter, compared to analysts’ expectations of $64.43 million. New Age Beverages had a negative return on equity of 18.51% and a negative net margin of 12.79%. The firm’s revenue for the quarter was up 396.6% on a year-over-year basis. During the same period last year, the business earned ($0.09) earnings per share.
Shares of NASDAQ NBEV traded up $0.19 during mid-day trading on Friday, reaching $3.60. 2,766,024 shares of the company traded hands, compared to its average volume of 2,612,091. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.24 and a current ratio of 1.63. The company’s fifty day moving average is $4.08. New Age Beverages has a fifty-two week low of $1.30 and a fifty-two week high of $9.99.
In other New Age Beverages news, CEO Brent D. Willis sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $4.00, for a total value of $100,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.90% of the company’s stock.
A number of research analysts have recently commented on NBEV shares. Maxim Group reissued a “hold” rating on shares of New Age Beverages in a report on Friday, May 10th. Zacks Investment Research raised New Age Beverages from a “sell” rating to a “hold” rating in a report on Friday. Compass Point started coverage on New Age Beverages in a report on Monday, June 10th. They set a “buy” rating and a $9.00 price objective on the stock. Northland Securities reissued a “hold” rating and set a $5.00 price objective on shares of New Age Beverages in a report on Thursday. Finally, BidaskClub lowered New Age Beverages from a “sell” rating to a “strong sell” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $6.79.
About New Age Beverages
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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