New Age Beverages Corp (NASDAQ:NBEV)’s share price fell 6.5% during mid-day trading on Wednesday . The stock traded as low as $3.38 and last traded at $3.43, 1,904,949 shares traded hands during trading. A decline of 68% from the average session volume of 5,952,073 shares. The stock had previously closed at $3.67.
A number of research firms have weighed in on NBEV. Zacks Investment Research raised shares of New Age Beverages from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Northland Securities reissued a “hold” rating and set a $5.00 price target on shares of New Age Beverages in a research report on Thursday, August 8th. Maxim Group reaffirmed a “hold” rating on shares of New Age Beverages in a research report on Friday, May 10th. BidaskClub cut New Age Beverages from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 11th. Finally, Compass Point started coverage on New Age Beverages in a research report on Monday, June 10th. They set a “buy” rating and a $9.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.79.
The firm has a 50 day moving average of $3.99. The company has a quick ratio of 1.24, a current ratio of 1.63 and a debt-to-equity ratio of 0.25.
New Age Beverages (NASDAQ:NBEV) last issued its earnings results on Thursday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). New Age Beverages had a negative return on equity of 18.51% and a negative net margin of 12.79%. The business had revenue of $66.35 million for the quarter, compared to analysts’ expectations of $64.43 million. During the same period last year, the company posted ($0.09) earnings per share. The business’s quarterly revenue was up 396.6% on a year-over-year basis. Analysts anticipate that New Age Beverages Corp will post -0.01 EPS for the current year.
In other New Age Beverages news, CEO Brent D. Willis sold 25,000 shares of the stock in a transaction on Monday, July 15th. The shares were 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 available through the SEC website. Company insiders own 4.90% of the company’s stock.
Large investors have recently modified their holdings of the stock. Northern Trust Corp raised its holdings in shares of New Age Beverages by 51.1% during the fourth quarter. Northern Trust Corp now owns 128,345 shares of the company’s stock worth $668,000 after acquiring an additional 43,381 shares during the period. Advisor Group Inc. grew its position in New Age Beverages by 439.3% in the fourth quarter. Advisor Group Inc. now owns 10,785 shares of the company’s stock valued at $56,000 after purchasing an additional 8,785 shares in the last quarter. Stifel Financial Corp bought a new position in New Age Beverages in the fourth quarter valued at $296,000. Bank of New York Mellon Corp grew its position in New Age Beverages by 127.2% in the fourth quarter. Bank of New York Mellon Corp now owns 59,094 shares of the company’s stock valued at $307,000 after purchasing an additional 33,090 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in New Age Beverages by 311.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 97,621 shares of the company’s stock valued at $508,000 after purchasing an additional 73,900 shares in the last quarter. Institutional investors and hedge funds own 13.86% of the company’s stock.
About New Age Beverages (NASDAQ:NBEV)
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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