New Age Beverage Corporation (NASDAQ:NBEV) Earns Buy Rating from Analysts at Roth Capital

Research analysts at Roth Capital started coverage on shares of New Age Beverage Corporation (NASDAQ:NBEV) in a research note issued to investors on Thursday. The brokerage set a “buy” rating and a $7.50 price target on the stock. Roth Capital’s price target suggests a potential upside of 47.35% from the stock’s current price.

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A number of other equities research analysts also recently issued reports on NBEV. Aegis started coverage on shares of New Age Beverage Corporation in a research report on Monday, May 1st. They issued a “buy” rating and a $6.25 target price for the company. Maxim Group started coverage on shares of New Age Beverage Corporation in a research report on Thursday, May 4th. They issued a “buy” rating and a $6.00 target price for the company.

Shares of New Age Beverage Corporation (NASDAQ:NBEV) traded up 6.0138% during trading on Thursday, reaching $5.3961. The company had a trading volume of 81,017 shares. New Age Beverage Corporation has a 52-week low of $1.28 and a 52-week high of $7.20. The stock has a 50 day moving average of $5.29 and a 200 day moving average of $4.61. The stock’s market capitalization is $168.94 million.

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In other news, insider Julie Anderson sold 300,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $5.79, for a total transaction of $1,737,000.00. Following the transaction, the insider now owns 1,705,093 shares in the company, valued at approximately $9,872,488.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 48.59% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in New Age Beverage Corporation stock. Russell Investments Group Ltd. increased its stake in New Age Beverage Corporation (NASDAQ:NBEV) by 418.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,120,880 shares of the company’s stock after buying an additional 904,499 shares during the period. Russell Investments Group Ltd. owned 3.26% of New Age Beverage Corporation worth $5,749,000 as of its most recent filing with the SEC. 10.33% of the stock is currently owned by institutional investors.

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.