New Age Beverages (NBEV) Earns “Buy” Rating from Aegis

Aegis reiterated their buy rating on shares of New Age Beverages (NASDAQ:NBEV) in a research report released on Monday morning.

NBEV has been the subject of several other reports. Zacks Investment Research upgraded shares of New Age Beverages from a hold rating to a buy rating and set a $2.75 price objective for the company in a research report on Wednesday, October 18th. Maxim Group lowered their price target on shares of New Age Beverages from $7.50 to $6.00 and set a buy rating for the company in a report on Friday, November 17th. Finally, TheStreet downgraded shares of New Age Beverages from a c rating to a d+ rating in a report on Monday, August 7th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $5.63.

New Age Beverages (NASDAQ NBEV) opened at $2.17 on Monday. New Age Beverages has a 1 year low of $1.80 and a 1 year high of $7.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.26.

Several large investors have recently made changes to their positions in the company. HighTower Advisors LLC increased its holdings in shares of New Age Beverages by 18.1% during the second quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock worth $114,000 after buying an additional 3,428 shares in the last quarter. Virtu KCG Holdings LLC increased its holdings in shares of New Age Beverages by 119.9% during the second quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock worth $170,000 after buying an additional 18,189 shares in the last quarter. Northern Trust Corp acquired a new position in shares of New Age Beverages during the second quarter worth $151,000. Timpani Capital Management LLC increased its holdings in shares of New Age Beverages by 43.7% during the second quarter. Timpani Capital Management LLC now owns 308,471 shares of the company’s stock worth $1,582,000 after buying an additional 93,817 shares in the last quarter. Finally, Blair William & Co. IL acquired a new position in shares of New Age Beverages during the second quarter worth $577,000. Institutional investors own 12.88% of the company’s stock.

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About New Age Beverages

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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