New Age Beverages Corp (NASDAQ:NBEV) has been assigned an average recommendation of “Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $6.75.
A number of equities research analysts have recently commented on the stock. ValuEngine upgraded shares of New Age Beverages from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research upgraded shares of New Age Beverages from a “sell” rating to a “hold” rating in a research report on Tuesday, February 6th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp acquired a new stake in shares of New Age Beverages in the second quarter valued at about $151,000. Deutsche Bank AG acquired a new stake in New Age Beverages during the fourth quarter worth about $227,000. Renaissance Technologies LLC acquired a new stake in New Age Beverages during the fourth quarter worth about $227,000. Cadence Capital Management LLC increased its position in New Age Beverages by 63.4% during the fourth quarter. Cadence Capital Management LLC now owns 470,210 shares of the company’s stock worth $1,020,000 after purchasing an additional 182,529 shares during the last quarter. Finally, Pacific Grove Capital LP increased its position in New Age Beverages by 33.5% during the third quarter. Pacific Grove Capital LP now owns 941,021 shares of the company’s stock worth $3,209,000 after purchasing an additional 236,281 shares during the last quarter. Institutional investors and hedge funds own 12.63% of the company’s stock.
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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