A number of other equities analysts have also weighed in on the company. Maxim Group reaffirmed a hold rating on shares of New Age Beverages in a research report on Friday, May 10th. ValuEngine lowered New Age Beverages from a buy rating to a hold rating in a research report on Thursday, April 4th. Zacks Investment Research raised New Age Beverages from a hold rating to a buy rating and set a $5.75 target price on the stock in a research report on Thursday, April 4th. Northland Securities reaffirmed a buy rating and set a $8.00 target price on shares of New Age Beverages in a research report on Monday, April 1st. Finally, Alliance Global Partners started coverage on New Age Beverages in a research report on Tuesday, March 26th. They set a buy rating and a $8.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $6.95.
Shares of NASDAQ:NBEV opened at $5.44 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.24. New Age Beverages has a twelve month low of $1.30 and a twelve month high of $9.99.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in New Age Beverages by 425.7% during the third quarter. BlackRock Inc. now owns 743,966 shares of the company’s stock worth $3,980,000 after buying an additional 602,434 shares in the last quarter. Perritt Capital Management Inc. bought a new position in New Age Beverages in the 4th quarter valued at $1,690,000. GSA Capital Partners LLP bought a new position in New Age Beverages in the 4th quarter valued at $63,000. Vanguard Group Inc grew its stake in New Age Beverages by 75.6% in the 3rd quarter. Vanguard Group Inc now owns 1,357,536 shares of the company’s stock valued at $7,263,000 after purchasing an additional 584,381 shares during the period. Finally, Northern Trust Corp grew its stake in New Age Beverages by 51.1% in the 4th quarter. Northern Trust Corp now owns 128,345 shares of the company’s stock valued at $668,000 after purchasing an additional 43,381 shares during the period. Institutional investors and hedge funds own 13.57% of the company’s stock.
New Age Beverages Company Profile
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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