New Age Beverages (NBEV) Shares Gap Up to $5.08

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New Age Beverages Corp (NASDAQ:NBEV) shares gapped up before the market opened on Thursday . The stock had previously closed at $5.71, but opened at $5.08. New Age Beverages shares last traded at $4.82, with a volume of 97866 shares traded.

Several research firms recently issued reports on NBEV. Zacks Investment Research raised shares of New Age Beverages from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Maxim Group cut their price target on shares of New Age Beverages from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Northland Securities began coverage on shares of New Age Beverages in a report on Tuesday, September 4th. They issued an “outperform” rating and a $3.00 price target on the stock. Finally, ValuEngine raised shares of New Age Beverages from a “hold” rating to a “buy” rating in a report on Friday, September 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $3.00.

The company has a quick ratio of 0.74, a current ratio of 1.48 and a debt-to-equity ratio of 0.07.

New Age Beverages (NASDAQ:NBEV) last posted its quarterly earnings results on Tuesday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter. New Age Beverages had a negative net margin of 22.14% and a negative return on equity of 21.60%. The company had revenue of $13.36 million during the quarter. As a group, equities analysts expect that New Age Beverages Corp will post -0.2 earnings per share for the current fiscal year.

In other New Age Beverages news, CEO Brent D. Willis bought 78,000 shares of the stock in a transaction on Friday, August 24th. The stock was purchased at an average price of $1.28 per share, for a total transaction of $99,840.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Evans bought 100,000 shares of the stock in a transaction on Friday, August 24th. The shares were acquired at an average price of $1.28 per share, with a total value of $128,000.00. Following the purchase, the director now owns 69,232 shares of the company’s stock, valued at $88,616.96. The disclosure for this purchase can be found here. 20.00% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in NBEV. Nepsis Inc. bought a new stake in New Age Beverages during the second quarter valued at $3,252,000. BlackRock Inc. increased its stake in New Age Beverages by 425.7% during the third quarter. BlackRock Inc. now owns 743,966 shares of the company’s stock valued at $3,980,000 after purchasing an additional 602,434 shares during the last quarter. Bank of Montreal Can bought a new stake in New Age Beverages during the third quarter valued at $202,000. Finally, Bank of New York Mellon Corp increased its stake in New Age Beverages by 112.0% during the third quarter. Bank of New York Mellon Corp now owns 26,004 shares of the company’s stock valued at $139,000 after purchasing an additional 13,738 shares during the last quarter. Hedge funds and other institutional investors own 7.45% of the company’s stock.

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About New Age Beverages (NASDAQ:NBEV)

New Age Beverages Corporation, a healthy functional beverage company, engages in the development, marketing, sales, and distribution of beverages. The company offers ready to drink (RTD) tea, RTD coffee, kombucha, energy drinks, relaxation drinks, coconut waters, functional waters, and rehydration beverages, as well as functional medical beverages.

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