Craft Brew Alliance Inc (NASDAQ:BREW) Short Interest Down 10.0% in May

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Craft Brew Alliance Inc (NASDAQ:BREW) was the target of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 826,100 shares, a decline of 10.0% from the April 30th total of 918,200 shares. Currently, 7.3% of the shares of the stock are sold short. Based on an average trading volume of 98,500 shares, the days-to-cover ratio is currently 8.4 days.

A number of analysts recently weighed in on BREW shares. Maxim Group set a $21.00 target price on shares of Craft Brew Alliance and gave the company a “buy” rating in a research note on Thursday, March 7th. Zacks Investment Research cut shares of Craft Brew Alliance from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. BidaskClub cut shares of Craft Brew Alliance from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 14th. Finally, TheStreet cut shares of Craft Brew Alliance from a “b-” rating to a “c+” rating in a research note on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.67.

A number of large investors have recently added to or reduced their stakes in the business. Financial Advocates Investment Management boosted its position in Craft Brew Alliance by 17.7% in the fourth quarter. Financial Advocates Investment Management now owns 6,646 shares of the company’s stock valued at $81,000 after buying an additional 1,000 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Craft Brew Alliance by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 28,472 shares of the company’s stock worth $407,000 after purchasing an additional 1,109 shares in the last quarter. Raymond James & Associates lifted its position in shares of Craft Brew Alliance by 0.8% during the first quarter. Raymond James & Associates now owns 157,197 shares of the company’s stock worth $2,198,000 after purchasing an additional 1,246 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Craft Brew Alliance by 6.1% during the fourth quarter. Bank of New York Mellon Corp now owns 45,817 shares of the company’s stock worth $655,000 after purchasing an additional 2,623 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Craft Brew Alliance by 53,180.0% during the first quarter. BNP Paribas Arbitrage SA now owns 2,664 shares of the company’s stock worth $37,000 after purchasing an additional 2,659 shares in the last quarter. Hedge funds and other institutional investors own 36.75% of the company’s stock.

NASDAQ:BREW traded down $0.30 on Wednesday, reaching $13.40. The stock had a trading volume of 73,000 shares, compared to its average volume of 79,510. The firm has a market cap of $265.67 million, a PE ratio of 63.81 and a beta of 0.46. Craft Brew Alliance has a 1-year low of $13.15 and a 1-year high of $21.00. The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 0.53.

Craft Brew Alliance (NASDAQ:BREW) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.19) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.05. The firm had revenue of $46.99 million for the quarter. Craft Brew Alliance had a negative net margin of 1.58% and a positive return on equity of 0.25%.

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Craft Brew Alliance Company Profile

Craft Brew Alliance, Inc brews and sells craft beers and ciders in the United States and internationally. It operates through two segments, Beer Related Operations and Brewpubs Operations. It offers beers under the Kona, Omission, Appalachian Mountain, Cisco, Redhook, Widmer Brothers, and Wynwood brands; and ciders under the Square Mile brand name.

Further Reading: Preferred Stock

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