New Age Beverage Corporation (NASDAQ:NBEV) Director Timothy J. Haas purchased 85,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average price of $3.49 per share, with a total value of $296,650.00. Following the transaction, the director now directly owns 30,000 shares in the company, valued at $104,700. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

New Age Beverage Corporation (NBEV) opened at 3.48 on Tuesday. New Age Beverage Corporation has a 52-week low of $1.28 and a 52-week high of $7.20. The company has a 50 day moving average price of $4.51 and a 200-day moving average price of $4.64. The firm has a market cap of $119.47 million, a price-to-earnings ratio of 204.71 and a beta of 4.68.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its position in New Age Beverage Corporation by 418.0% in the second quarter. Russell Investments Group Ltd. now owns 1,120,880 shares of the company’s stock valued at $5,749,000 after buying an additional 904,499 shares during the period. Blair William & Co. IL acquired a new position in New Age Beverage Corporation during the second quarter valued at $577,000. Timpani Capital Management LLC raised its position in New Age Beverage Corporation by 43.7% in the second quarter. Timpani Capital Management LLC now owns 308,471 shares of the company’s stock valued at $1,582,000 after buying an additional 93,817 shares during the period. Northern Trust Corp acquired a new position in New Age Beverage Corporation during the second quarter valued at $151,000. Finally, Vanguard Group Inc. acquired a new position in New Age Beverage Corporation during the second quarter valued at $3,358,000. 14.01% of the stock is owned by hedge funds and other institutional investors.

NBEV has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded New Age Beverage Corporation from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research report on Wednesday, August 2nd. Roth Capital initiated coverage on New Age Beverage Corporation in a research report on Thursday, July 27th. They issued a “buy” rating and a $7.50 price target for the company. Maxim Group increased their price target on New Age Beverage Corporation from $6.00 to $7.50 and gave the company a “buy” rating in a research report on Monday, May 22nd. Aegis initiated coverage on New Age Beverage Corporation in a research report on Monday, May 1st. They issued a “buy” rating and a $6.25 price target for the company. Finally, TheStreet lowered New Age Beverage Corporation from a “c” rating to a “d+” rating in a research report on Monday, August 7th. Four investment analysts have rated the stock with a buy rating, New Age Beverage Corporation presently has an average rating of “Buy” and a consensus target price of $6.31.

About New Age Beverage Corporation

The New Age Beverage Corporation, formerly Bucha, Inc, is a healthy functional beverage company. The Company is the owner of XingTea, XingEnergy, Aspen Pure and the Bucha Live Kombucha brands. The Company’s bucha Live Kombucha is a gluten free, organic certified, sparkling kombucha tea and is distributed in health and grocery chains across North America.

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