New Age Beverage Corporation (NBEV) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of New Age Beverage Corporation (NASDAQ:NBEV) from a hold rating to a buy rating in a report issued on Wednesday, August 2nd. Zacks Investment Research currently has $5.50 price objective on the stock.

According to Zacks, “New Age Beverages Corporation is a beverage company. The company’s brand portfolio include XingTea (R) , Aspen Pure (R) , Artesian Water, Búcha (R) Live Kombucha, Marley One Drop (R), RTD Coffee and Marley Mellow Mood (TM). New Age Beverages Corporation, formerly known as American Brewing Company Inc., is based in USA. “

NBEV has been the topic of several other reports. Aegis assumed coverage on shares of New Age Beverage Corporation in a research note on Monday, May 1st. They issued a buy rating and a $6.25 price target on the stock. Maxim Group increased their price target on shares of New Age Beverage Corporation from $6.00 to $7.50 and gave the company a buy rating in a research note on Monday, May 22nd. Finally, Roth Capital assumed coverage on shares of New Age Beverage Corporation in a research note on Thursday, July 27th. They issued a buy rating and a $7.50 price target on the stock. Four analysts have rated the stock with a buy rating, New Age Beverage Corporation presently has a consensus rating of Buy and a consensus price target of $6.69.

Shares of New Age Beverage Corporation (NASDAQ:NBEV) opened at 4.84 on Wednesday. New Age Beverage Corporation has a 1-year low of $1.28 and a 1-year high of $7.20. The firm’s market capitalization is $151.53 million. The company has a 50-day moving average of $4.83 and a 200-day moving average of $4.67.

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In other news, insider Julie Anderson sold 300,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $5.79, for a total value of $1,737,000.00. Following the completion of the sale, the insider now directly owns 1,705,093 shares of the company’s stock, valued at $9,872,488.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 48.59% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Virtu KCG Holdings LLC increased its stake in New Age Beverage Corporation by 119.9% in the second quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock valued at $170,000 after buying an additional 18,189 shares during the last quarter. Northern Trust Corp purchased a new stake in New Age Beverage Corporation during the second quarter valued at $151,000. Timpani Capital Management LLC increased its stake in New Age Beverage Corporation by 43.7% in the second quarter. Timpani Capital Management LLC now owns 308,471 shares of the company’s stock valued at $1,582,000 after buying an additional 93,817 shares during the last quarter. Blair William & Co. IL purchased a new stake in New Age Beverage Corporation during the second quarter valued at $577,000. Finally, EAM Investors LLC purchased a new stake in New Age Beverage Corporation during the second quarter valued at $1,104,000. 12.05% of the stock is owned by institutional investors and hedge funds.

New Age Beverage Corporation Company Profile

The New Age Beverage Corporation, formerly Bucha, Inc, is a healthy functional beverage company. The Company is the owner of XingTea, XingEnergy, Aspen Pure and the Bucha Live Kombucha brands. The Company’s bucha Live Kombucha is a gluten free, organic certified, sparkling kombucha tea and is distributed in health and grocery chains across North America.

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