Bard Associates Inc. continued to hold its stake in New Age Beverage Corporation (NASDAQ:NBEV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,000 shares of the company’s stock at the close of the 2nd quarter. Bard Associates Inc. owned 0.22% of New Age Beverage Corporation worth $349,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Russell Investments Group Ltd. grew its position in New Age Beverage Corporation by 418.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,120,880 shares of the company’s stock worth $5,749,000 after purchasing an additional 904,499 shares in the last quarter. Timpani Capital Management LLC grew its position in New Age Beverage Corporation by 43.7% in 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 in the last quarter. Finally, Blair William & Co. IL bought a new stake in New Age Beverage Corporation in the 2nd quarter worth about $577,000. 14.01% of the stock is owned by institutional investors and hedge funds.
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In other news, Director Timothy J. Haas acquired 85,000 shares of New Age Beverage Corporation stock in a transaction on Friday, August 25th. The stock was acquired at an average cost of $3.49 per share, for a total transaction of $296,650.00. Following the purchase, the director now owns 30,000 shares in the company, valued at $104,700. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Neil Fallon sold 38,881 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $4.53, for a total transaction of $176,130.93. Following the sale, the director now owns 5,354,858 shares of the company’s stock, valued at $24,257,506.74. The disclosure for this sale can be found here. 48.59% of the stock is currently owned by company insiders.
A number of brokerages have issued reports on NBEV. TheStreet downgraded shares of New Age Beverage Corporation from a “c” rating to a “d+” rating in a research report on Monday, August 7th. Zacks Investment Research raised shares of New Age Beverage Corporation from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Saturday. Roth Capital began coverage on shares of New Age Beverage Corporation in a research report on Thursday, July 27th. They issued a “buy” rating and a $7.50 price objective for the company. Finally, Maxim Group upped their price objective on shares of New Age Beverage Corporation from $6.00 to $7.50 and gave the stock a “buy” rating in a research report on Monday, May 22nd. Four equities research analysts have rated the stock with a buy rating, New Age Beverage Corporation currently has an average rating of “Buy” and a consensus target price of $6.44.
Shares of New Age Beverage Corporation (NASDAQ NBEV) opened at 3.76 on Tuesday. The firm has a 50-day moving average of $4.37 and a 200-day moving average of $4.58. New Age Beverage Corporation has a 12 month low of $1.28 and a 12 month high of $7.20. The company has a market capitalization of $129.08 million, a P/E ratio of 221.18 and a beta of 4.74.
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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