New Age Beverages (NASDAQ:NBEV) Rating Lowered to Strong Sell at BidaskClub

BidaskClub lowered shares of New Age Beverages (NASDAQ:NBEV) from a sell rating to a strong sell rating in a research report report published on Thursday morning, BidAskClub reports.

Other equities analysts have also recently issued research reports about the company. Alliance Global Partners started coverage on New Age Beverages in a report on Tuesday, March 26th. They set a buy rating and a $8.00 price objective on the stock. Maxim Group set a $7.00 price objective on Net 1 UEPS Technologies and gave the company a buy rating in a report on Friday, May 10th. Compass Point started coverage on Randsburg International Gold in a report on Monday, June 10th. They set a buy rating on the stock. Northland Securities reiterated a buy rating and set a $10.00 price objective on shares of Aytu Bioscience in a report on Tuesday, June 4th. Finally, Zacks Investment Research upgraded Hanmi Financial from a sell rating to a hold rating in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. New Age Beverages currently has an average rating of Hold and a consensus price target of $7.29.

New Age Beverages stock opened at $4.11 on Thursday. New Age Beverages has a 1 year low of $1.30 and a 1 year high of $9.99. The stock’s 50-day moving average is $4.71. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.24.

New Age Beverages (NASDAQ:NBEV) last posted its earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.07). The company had revenue of $58.31 million for the quarter, compared to analyst estimates of $59.60 million. New Age Beverages had a negative return on equity of 14.49% and a negative net margin of 11.23%. Equities analysts forecast that New Age Beverages will post 0.08 EPS for the current year.

In other news, Director Reginald Kapteyn sold 18,000 shares of New Age Beverages stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $5.20, for a total transaction of $93,600.00. Following the transaction, the director now owns 68,812 shares in the company, valued at approximately $357,822.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brent D. Willis sold 25,000 shares of New Age Beverages stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $4.59, for a total value of $114,750.00. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in New Age Beverages by 54.1% in the 4th quarter. BlackRock Inc. now owns 1,146,398 shares of the company’s stock valued at $5,962,000 after acquiring an additional 402,432 shares in the last quarter. Laurion Capital Management LP lifted its stake in New Age Beverages by 19.8% in the 1st quarter. Laurion Capital Management LP now owns 626,632 shares of the company’s stock valued at $3,296,000 after acquiring an additional 103,755 shares in the last quarter. Geode Capital Management LLC lifted its stake in New Age Beverages by 77.5% in the 4th quarter. Geode Capital Management LLC now owns 444,631 shares of the company’s stock valued at $2,312,000 after acquiring an additional 194,180 shares in the last quarter. Crosspoint Capital Strategies LLC bought a new stake in New Age Beverages in the 1st quarter valued at approximately $1,173,000. Finally, Raymond James & Associates lifted its stake in New Age Beverages by 1,202.2% in the 4th quarter. Raymond James & Associates now owns 155,040 shares of the company’s stock valued at $806,000 after acquiring an additional 143,134 shares in the last quarter. Institutional investors and hedge funds own 13.83% of the company’s stock.

New Age Beverages Company Profile

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.

See Also: What is the Quick Ratio?

Analyst Recommendations for New Age Beverages (NASDAQ:NBEV)

Receive News & Ratings for New Age Beverages Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Age Beverages and related companies with MarketBeat.com's FREE daily email newsletter.