New Age Beverages (NBEV) Receives Buy Rating from Aegis

New Age Beverages (NASDAQ:NBEV)‘s stock had its “buy” rating restated by investment analysts at Aegis in a research report issued on Monday, December 4th.

Several other research firms have also recently weighed in on NBEV. TheStreet cut New Age Beverages from a “c” rating to a “d+” rating in a research note on Monday, August 7th. Zacks Investment Research lowered New Age Beverages from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Finally, Maxim Group cut their price objective on New Age Beverages from $7.50 to $6.00 and set a “buy” rating for the company in a report on Friday, November 17th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $5.63.

New Age Beverages (NBEV) traded up $0.09 during mid-day trading on Monday, hitting $2.17. The stock had a trading volume of 236,197 shares, compared to its average volume of 226,955. New Age Beverages has a 52-week low of $1.80 and a 52-week high of $7.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.26.

Institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC lifted its position in shares of New Age Beverages 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 acquiring an additional 3,428 shares in the last quarter. Northern Trust Corp purchased a new position in shares of New Age Beverages in the second quarter valued at about $151,000. Virtu KCG Holdings LLC lifted its position in shares of New Age Beverages by 119.9% in the second quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock worth $170,000 after buying an additional 18,189 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of New Age Beverages in the second quarter worth about $577,000. Finally, EAM Investors LLC purchased a new stake in shares of New Age Beverages in the second quarter worth about $1,104,000. Institutional investors and hedge funds own 12.78% of the company’s stock.

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About New Age Beverages

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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