Shares of New Age Beverages Corp (NASDAQ:NBEV) have been given an average broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy rating.
Analysts have set a 12 month consensus target price of $6.50 for the company and are predicting that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also given New Age Beverages an industry rank of 225 out of 265 based on the ratings given to related companies.
Several research analysts recently commented on the stock. Zacks Investment Research lowered shares of New Age Beverages from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Maxim Group reduced their price objective on shares of New Age Beverages from $7.50 to $6.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Finally, Aegis reiterated a “buy” rating on shares of New Age Beverages in a research note on Monday, December 4th.
A number of large investors have recently added to or reduced their stakes in NBEV. Blair William & Co. IL purchased a new stake in New Age Beverages during the 2nd quarter worth approximately $577,000. Timpani Capital Management LLC grew its position in New Age Beverages by 43.7% during the 2nd quarter. Timpani Capital Management LLC now owns 308,471 shares of the company’s stock worth $1,582,000 after purchasing an additional 93,817 shares during the last quarter. Northern Trust Corp purchased a new stake in New Age Beverages during the 2nd quarter worth approximately $151,000. Vanguard Group Inc. purchased a new stake in New Age Beverages during the 2nd quarter worth approximately $3,358,000. Finally, EAM Investors LLC purchased a new stake in New Age Beverages during the 2nd quarter worth approximately $1,104,000. 12.78% of the stock is currently owned by institutional investors.
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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