New Age Beverage Corporation (NASDAQ:NBEV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “New Age Beverages Corporation is a beverage company. The company’s brand portfolio include XingTea (R) , Aspen Pure (R) , Artesian Water, Búcha (R) Live Kombucha, Marley One Drop (R), RTD Coffee and Marley Mellow Mood (TM). New Age Beverages Corporation, formerly known as American Brewing Company Inc., is based in USA. “
Several other brokerages also recently issued reports on NBEV. TheStreet downgraded shares of New Age Beverage Corporation from a “c” rating to a “d+” rating in a research report on Monday, August 7th. Maxim Group initiated 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 price objective for the company. 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 for the company. Finally, Aegis initiated 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 price objective for the company. Four equities research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $6.31.
New Age Beverage Corporation (NASDAQ NBEV) opened at 3.65 on Tuesday. The company’s 50-day moving average is $4.58 and its 200 day moving average is $4.66. New Age Beverage Corporation has a one year low of $1.28 and a one year high of $7.20. The company has a market capitalization of $125.30 million, a P/E ratio of 214.71 and a beta of 4.68.
ILLEGAL ACTIVITY WARNING: “New Age Beverage Corporation (NBEV) Rating Lowered to Hold at Zacks Investment Research” was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://stocknewstimes.com/2017/08/24/new-age-beverage-corporation-nbev-rating-lowered-to-hold-at-zacks-investment-research.html.
In other news, insider Julie Anderson sold 300,000 shares of the firm’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Neil Fallon sold 38,881 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $4.53, for a total transaction of $176,130.93. Following 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 owned by company insiders.
Institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC boosted its position in shares of New Age Beverage Corporation by 18.1% in the second quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock valued at $114,000 after buying an additional 3,428 shares during the period. Virtu KCG Holdings LLC boosted its position in shares of New Age Beverage Corporation by 119.9% in the second quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock valued at $170,000 after buying an additional 18,189 shares during the period. EAM Investors LLC purchased a new position in shares of New Age Beverage Corporation during the second quarter valued at about $1,104,000. Vanguard Group Inc. purchased a new position in shares of New Age Beverage Corporation during the second quarter valued at about $3,358,000. Finally, Northern Trust Corp purchased a new position in shares of New Age Beverage Corporation during the second quarter valued at about $151,000. Hedge funds and other institutional investors own 12.41% of the company’s stock.
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.
Receive News & Ratings for New Age Beverage Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Age Beverage Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
