New Age Beverages Corp (NBEV) Given Average Recommendation of “Strong Buy” by Analysts

New Age Beverages Corp (NASDAQ:NBEV) has been assigned an average broker rating score of 1.00 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation.

Analysts have set a twelve-month consensus price objective of $6.50 for the company and are anticipating that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also given New Age Beverages an industry rank of 195 out of 265 based on the ratings given to its competitors.

Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of New Age Beverages from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Aegis reiterated a “buy” rating on shares of New Age Beverages in a research note on Monday, December 4th. Finally, Maxim Group lowered their price objective on shares of New Age Beverages from $7.50 to $6.00 and set a “buy” rating for the company in a research note on Friday, November 17th.

New Age Beverages (NASDAQ NBEV) traded down $0.21 during trading hours on Wednesday, hitting $3.58. 738,328 shares of the stock traded hands, compared to its average volume of 1,577,873. New Age Beverages has a 1-year low of $1.80 and a 1-year 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.

New Age Beverages (NASDAQ:NBEV) last posted its quarterly earnings data on Tuesday, November 14th. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.03). New Age Beverages had a negative return on equity of 0.58% and a negative net margin of 0.41%. equities analysts predict that New Age Beverages will post 0.06 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacific Grove Capital LP lifted its position in New Age Beverages by 33.5% during the third quarter. Pacific Grove Capital LP now owns 941,021 shares of the company’s stock valued at $3,209,000 after purchasing an additional 236,281 shares during the period. Vanguard Group Inc. acquired a new position in New Age Beverages during the second quarter valued at $3,358,000. Cadence Capital Management LLC acquired a new position in New Age Beverages during the third quarter valued at $981,000. Virtu KCG Holdings LLC lifted its position in New Age Beverages by 119.9% during the second quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock valued at $170,000 after purchasing an additional 18,189 shares during the period. Finally, Northern Trust Corp acquired a new position in New Age Beverages during the second quarter valued at $151,000. Institutional investors own 12.78% of the company’s stock.

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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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