New Age Beverages (NBEV) Receives “Buy” Rating from Aegis

Aegis restated their buy rating on shares of New Age Beverages (NASDAQ:NBEV) in a research report report published on Monday.

A number of other research analysts have also weighed in on NBEV. TheStreet lowered New Age Beverages from a c rating to a d+ rating in a report on Monday, August 7th. Zacks Investment Research lowered New Age Beverages from a buy rating to a hold rating in a report on Tuesday, August 22nd. Finally, Maxim Group decreased their target price on New Age Beverages from $7.50 to $6.00 and set a buy rating on the stock in a report on Friday, November 17th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $5.63.

New Age Beverages (NASDAQ:NBEV) traded down $0.03 during mid-day trading on Monday, hitting $2.17. The company had a trading volume of 81,900 shares, compared to its average volume of 270,902. The company has a current ratio of 2.21, a quick ratio of 1.26 and a debt-to-equity ratio of 0.11. New Age Beverages has a 1-year low of $1.80 and a 1-year high of $7.20.

Hedge funds and other institutional investors have recently modified their holdings of the business. HighTower Advisors LLC grew its holdings in New Age Beverages by 18.1% in the 2nd 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 in the last quarter. Northern Trust Corp acquired a new position in New Age Beverages in the 2nd quarter valued at $151,000. Virtu KCG Holdings LLC grew its holdings in New Age Beverages by 119.9% in the 2nd 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 in the last quarter. Blair William & Co. IL bought a new stake in shares of New Age Beverages during the 2nd quarter valued at $577,000. Finally, EAM Investors LLC bought a new stake in shares of New Age Beverages during the 2nd quarter valued at $1,104,000. 12.88% of the stock is currently owned by hedge funds and other institutional investors.

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New Age Beverages 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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