NewAge (NASDAQ:NBEV) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of NewAge (NASDAQ:NBEV) from a strong sell rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “NewAge Inc. is an omni-channel healthy and organic products company. NewAge Inc., formerly known as New Age Beverages Corporation, is based in DENVER. “

NBEV stock opened at $0.87 on Wednesday. The business’s 50-day moving average price is $1.17 and its two-hundred day moving average price is $1.54. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12. NewAge has a 1-year low of $0.82 and a 1-year high of $4.55.

NewAge (NASDAQ:NBEV) last issued its quarterly earnings data on Tuesday, November 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.08). The firm had revenue of $99.55 million for the quarter, compared to the consensus estimate of $123.80 million. NewAge had a negative return on equity of 22.01% and a negative net margin of 1.62%. During the same quarter in the prior year, the firm earned ($0.14) EPS. As a group, analysts expect that NewAge will post -0.14 earnings per share for the current year.

In other NewAge news, Director Ed Brennan purchased 500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 18th. The shares were acquired at an average price of $1.22 per share, with a total value of $610,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of NBEV. Principal Financial Group Inc. increased its stake in shares of NewAge by 36.7% during the 2nd quarter. Principal Financial Group Inc. now owns 18,912 shares of the company’s stock worth $42,000 after purchasing an additional 5,076 shares during the last quarter. LPL Financial LLC increased its stake in shares of NewAge by 22.6% during the 2nd quarter. LPL Financial LLC now owns 37,166 shares of the company’s stock worth $83,000 after purchasing an additional 6,850 shares during the last quarter. Stifel Financial Corp increased its stake in shares of NewAge by 18.7% during the 2nd quarter. Stifel Financial Corp now owns 50,700 shares of the company’s stock worth $113,000 after purchasing an additional 8,000 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in shares of NewAge by 40.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 31,530 shares of the company’s stock worth $43,000 after purchasing an additional 9,023 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of NewAge by 36.3% during the 2nd quarter. ProShare Advisors LLC now owns 34,543 shares of the company’s stock worth $77,000 after purchasing an additional 9,197 shares during the last quarter. Hedge funds and other institutional investors own 25.91% of the company’s stock.

About NewAge

NewAge Inc is engaged in the business of developing, marketing, selling, and distributing a portfolio of healthy products. It offers a portfolio of healthy products with its brands across platforms, such as health & wellness, inner & outer beauty, and nutrition & weight management. Its partner companies include ARIIX, Noni, LIMU, and ZENNOA.

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