New Age Beverages (NBEV) Shares Gap Up to $2.56

New Age Beverages Corp (NASDAQ:NBEV)’s share price gapped up before the market opened on Friday . The stock had previously closed at $1.75, but opened at $2.56. New Age Beverages shares last traded at $3.17, with a volume of 9614300 shares changing hands.

Several equities analysts recently commented on NBEV shares. Zacks Investment Research cut shares of New Age Beverages from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Maxim Group cut their target price 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. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $5.63.

The company has a quick ratio of 1.26, a current ratio of 2.21 and a debt-to-equity ratio of 0.11.

A number of large investors have recently added to or reduced their stakes in NBEV. Northern Trust Corp acquired a new position in New Age Beverages during the 2nd quarter valued at $151,000. Vanguard Group Inc. acquired a new position in New Age Beverages during the 2nd quarter valued at $3,358,000. EAM Investors LLC acquired a new position in New Age Beverages during the 2nd quarter valued at $1,104,000. Virtu KCG Holdings LLC increased its holdings in New Age Beverages by 119.9% in the 2nd 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 period. Finally, HighTower Advisors LLC increased its holdings in New Age Beverages by 18.1% in the 2nd quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock valued at $114,000 after buying an additional 3,428 shares during the period. Hedge funds and other institutional investors own 12.78% of the company’s stock.

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New Age Beverages 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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