New Age Beverages (NBEV) Price Target Lowered to $5.00 at Maxim Group

New Age Beverages (NASDAQ:NBEV) had its target price lowered by Maxim Group from $6.00 to $5.00 in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded New Age Beverages from a sell rating to a hold rating in a report on Tuesday, January 16th. ValuEngine upgraded New Age Beverages from a hold rating to a buy rating in a report on Saturday, April 7th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $5.38.

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NBEV stock opened at $1.73 on Wednesday. The stock has a market cap of $67.36, a price-to-earnings ratio of -17.30 and a beta of 4.85. 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 has a 1 year low of $1.62 and a 1 year high of $7.20.

Hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp bought a new position in New Age Beverages during the 2nd quarter worth about $151,000. Deutsche Bank AG bought a new position in shares of New Age Beverages in the 4th quarter valued at about $227,000. Renaissance Technologies LLC bought a new position in shares of New Age Beverages in the 4th quarter valued at about $227,000. Cadence Capital Management LLC grew its holdings in shares of New Age Beverages by 63.4% in the 4th quarter. Cadence Capital Management LLC now owns 470,210 shares of the company’s stock valued at $1,020,000 after acquiring an additional 182,529 shares in the last quarter. Finally, Pacific Grove Capital LP grew its holdings in shares of New Age Beverages by 78.5% in the 4th quarter. Pacific Grove Capital LP now owns 1,679,272 shares of the company’s stock valued at $3,644,000 after acquiring an additional 738,251 shares in the last quarter. Hedge funds and other institutional investors own 12.42% of the company’s stock.

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About New Age Beverages

New Age Beverages Corporation, a healthy functional beverage company, engages in the development, marketing, sales, and distribution of beverages. It offers ready to drink tea, kombucha, energy drinks, and functional waters under XingTea, XingEnergy, Aspen Pure, and Bucha Live Kombucha brand names. The company offers its products directly, as well as through store delivery distribution systems in the United States and internationally.

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