Analysts.Ratings.&.Institutional.Activity.Of.$NBEV.In.The.Last.Few.Months...
New Age Beverages (NBEV) Earns Buy Rating from Analysts at Alliance Global Partners
Posted by Justin Noah on Mar 26th, 2019
New Age Beverages Analysts at Alliance Global Partners assumed coverage on shares of New Age Beverages (NASDAQ:NBEV) in a note issued to investors on Tuesday. The brokerage set a “buy” rating and a $8.00 price target on the stock. Alliance Global Partners’ target price points to a potential upside of 52.38% from the stock’s current price.
A number of other analysts have also recently commented on NBEV. Roth Capital lifted their price target on New Age Beverages from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, December 4th. BidaskClub raised New Age Beverages from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. ValuEngine upgraded New Age Beverages from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Northland Securities lifted their price objective on New Age Beverages from $6.00 to $8.00 and gave the company a “sell” rating in a research note on Monday, January 7th. Finally, Zacks Investment Research lowered New Age Beverages from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $7.20.
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Shares of NBEV opened at $5.25 on Tuesday. New Age Beverages has a one year low of $1.30 and a one year high of $9.99. The company has a quick ratio of 12.38, a current ratio of 15.69 and a debt-to-equity ratio of 0.04.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in New Age Beverages by 112.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 26,004 shares of the company’s stock worth $139,000 after purchasing an additional 13,738 shares during the period. BlackRock Inc. increased its holdings in New Age Beverages by 425.7% during the 3rd quarter. BlackRock Inc. now owns 743,966 shares of the company’s stock worth $3,980,000 after purchasing an additional 602,434 shares during the period. Jane Street Group LLC purchased a new position in New Age Beverages during the 3rd quarter worth $1,081,000. Vanguard Group Inc. increased its holdings in New Age Beverages by 75.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,357,536 shares of the company’s stock worth $7,263,000 after purchasing an additional 584,381 shares during the period. Finally, Vanguard Group Inc increased its holdings in New Age Beverages by 75.6% during the 3rd quarter. Vanguard Group Inc now owns 1,357,536 shares of the company’s stock worth $7,263,000 after purchasing an additional 584,381 shares during the period. Institutional investors and hedge funds own 13.75% 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.
