Russell Investments Group Ltd. raised its position in shares of 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. 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 at the end of the most recent quarter.
New Age Beverage Corporation (NASDAQ:NBEV) remained flat at $3.46 during mid-day trading on Tuesday. The company had a trading volume of 65,495 shares. The company’s 50 day moving average is $4.65 and its 200 day moving average is $4.67. The stock has a market capitalization of $118.78 million, a PE ratio of 203.53 and a beta of 4.68. New Age Beverage Corporation has a 52 week low of $1.28 and a 52 week high of $7.20.
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A number of research analysts have commented on NBEV shares. Aegis started coverage on shares of New Age Beverage Corporation in a research report on Monday, May 1st. They set a “buy” rating and a $6.25 target price on the stock. Maxim Group initiated coverage on shares of New Age Beverage Corporation in a research report on Thursday, May 4th. They set a “buy” rating and a $6.00 target price on the stock. Roth Capital initiated 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 on the stock. Zacks Investment Research raised shares of New Age Beverage Corporation from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a research report on Wednesday, August 2nd. Finally, TheStreet downgraded shares of New Age Beverage Corporation from a “c” rating to a “d+” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $6.69.
In other New Age Beverage Corporation news, insider Julie Anderson sold 300,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $5.79, for a total value of $1,737,000.00. Following the completion of the sale, the insider now owns 1,705,093 shares of the company’s stock, valued at $9,872,488.47. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Neil Fallon sold 38,881 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $4.53, for a total value of $176,130.93. Following the completion of the sale, the director now directly owns 5,354,858 shares of the company’s stock, valued at approximately $24,257,506.74. The disclosure for this sale can be found here. 48.59% of the stock is currently owned by company insiders.
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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