New Age Beverages (NASDAQ:NBEV) Shares Gap Down to $3.42

Shares of New Age Beverages Corp (NASDAQ:NBEV) gapped down prior to trading on Thursday . The stock had previously closed at $3.28, but opened at $3.42. New Age Beverages shares last traded at $3.28, with a volume of 74,928 shares.

Several research firms have commented on NBEV. Northland Securities reissued a “hold” rating and issued a $5.00 target price on shares of New Age Beverages in a research report on Thursday, August 8th. Compass Point began coverage on shares of New Age Beverages in a research report on Monday, June 10th. They issued a “buy” rating and a $9.00 target price for the company. Maxim Group reissued a “hold” rating on shares of New Age Beverages in a research report on Friday, May 10th. Zacks Investment Research raised shares of New Age Beverages from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, BidaskClub downgraded shares of New Age Beverages from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. New Age Beverages presently has a consensus rating of “Hold” and a consensus target price of $6.79.

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.24 and a current ratio of 1.63. The company’s fifty day moving average is $3.96 and its 200-day moving average is $5.06.

New Age Beverages (NASDAQ:NBEV) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.14). The firm had revenue of $66.35 million for the quarter, compared to the consensus estimate of $64.43 million. New Age Beverages had a negative return on equity of 18.51% and a negative net margin of 12.79%. New Age Beverages’s quarterly revenue was up 396.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) earnings per share. On average, analysts anticipate that New Age Beverages Corp will post -0.09 earnings per share for the current year.

In related news, CEO Brent D. Willis sold 25,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $4.00, for a total transaction of $100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.90% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of New Age Beverages by 279.0% during the 2nd quarter. BlackRock Inc. now owns 4,746,407 shares of the company’s stock worth $22,119,000 after buying an additional 3,494,062 shares during the period. Vanguard Group Inc. boosted its holdings in New Age Beverages by 34.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,645,591 shares of the company’s stock valued at $16,989,000 after purchasing an additional 928,126 shares during the period. Laurion Capital Management LP boosted its holdings in New Age Beverages by 19.8% in the 1st quarter. Laurion Capital Management LP now owns 626,632 shares of the company’s stock valued at $3,296,000 after purchasing an additional 103,755 shares during the period. Morgan Stanley boosted its holdings in New Age Beverages by 164.0% in the 2nd quarter. Morgan Stanley now owns 584,155 shares of the company’s stock valued at $2,722,000 after purchasing an additional 362,903 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in New Age Beverages by 77.5% in the 4th quarter. Geode Capital Management LLC now owns 444,631 shares of the company’s stock valued at $2,312,000 after purchasing an additional 194,180 shares during the period. 13.86% of the stock is owned by institutional investors and hedge funds.

About New Age Beverages (NASDAQ:NBEV)

New Age Beverages Corporation, a healthy functional beverage company, engages in the development, marketing, sales, and distribution of beverages. The company offers ready to drink (RTD) tea, RTD coffee, kombucha, energy drinks, relaxation drinks, coconut waters, functional waters, and rehydration beverages, as well as functional medical beverages.

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