New Age Beverages (NASDAQ:NBEV) had its price target boosted by Roth Capital from $7.00 to $10.00 in a report issued on Tuesday, The Fly reports. They currently have a buy rating on the stock.
A number of other research firms also recently weighed in on NBEV. Zacks Investment Research upgraded shares of New Age Beverages from a sell rating to a hold rating in a research report on Wednesday, October 17th. Northland Securities initiated coverage on shares of New Age Beverages in a research report on Tuesday, September 4th. They issued an outperform rating and a $3.00 price target for the company. Maxim Group dropped their price target on shares of New Age Beverages from $5.00 to $3.00 and set a buy rating for the company in a research report on Thursday, August 16th. Finally, ValuEngine upgraded shares of New Age Beverages from a hold rating to a buy rating in a research report on Friday, September 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $5.19.
NASDAQ NBEV opened at $4.69 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 15.69 and a quick ratio of 12.38. New Age Beverages has a 1-year low of $1.30 and a 1-year high of $9.99.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of New Age Beverages by 112.0% in the third quarter. Bank of New York Mellon Corp now owns 26,004 shares of the company’s stock valued at $139,000 after buying an additional 13,738 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of New Age Beverages in the third quarter valued at approximately $202,000. Jane Street Group LLC bought a new position in New Age Beverages in the third quarter valued at approximately $1,081,000. BlackRock Inc. increased its stake in New Age Beverages by 425.7% in the third quarter. BlackRock Inc. now owns 743,966 shares of the company’s stock valued at $3,980,000 after acquiring an additional 602,434 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in New Age Beverages by 75.6% in the third quarter. Vanguard Group Inc. now owns 1,357,536 shares of the company’s stock valued at $7,263,000 after acquiring an additional 584,381 shares during the last quarter. Institutional investors own 6.45% of the company’s stock.
About New Age Beverages
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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