New Age Beverage Corporation (NBEV) PT Lowered to $6.00 at Maxim Group
New Age Beverage Corporation (NASDAQ:NBEV) had its price objective reduced by investment analysts at Maxim Group from $7.50 to $6.00 in a research note issued to investors on Friday. The firm presently has a “buy” rating on the stock. Maxim Group’s price objective indicates a potential upside of 142.91% from the company’s current price.
Several other analysts also recently weighed in on the company. Roth Capital assumed coverage on New Age Beverage Corporation in a research note on Thursday, July 27th. They set a “buy” rating and a $7.50 target price on the stock. Zacks Investment Research raised New Age Beverage Corporation from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a research note on Wednesday, August 2nd. Finally, TheStreet downgraded New Age Beverage Corporation from a “c” rating to a “d+” rating in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $5.63.
Shares of New Age Beverage Corporation (NASDAQ NBEV) opened at $2.47 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.32. New Age Beverage Corporation has a 12 month low of $1.80 and a 12 month high of $7.20.
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In related news, Director Timothy J. Haas bought 85,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were acquired at an average cost of $3.49 per share, for a total transaction of $296,650.00. Following the acquisition, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $104,700. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 48.59% of the company’s stock.
Several hedge funds have recently modified their holdings of NBEV. HighTower Advisors LLC grew its holdings in shares of New Age Beverage Corporation by 18.1% during the second quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock valued at $114,000 after buying an additional 3,428 shares in the last quarter. Northern Trust Corp purchased a new position in shares of New Age Beverage Corporation during the second quarter valued at $151,000. Virtu KCG Holdings LLC grew its holdings in shares of New Age Beverage Corporation by 119.9% during the second quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock valued at $170,000 after buying an additional 18,189 shares in the last quarter. Blair William & Co. IL purchased a new position in shares of New Age Beverage Corporation during the second quarter valued at $577,000. Finally, Cadence Capital Management LLC purchased a new position in shares of New Age Beverage Corporation during the third quarter valued at $981,000. Institutional investors and hedge funds own 13.42% of the company’s stock.
New Age Beverage Corporation Company Profile
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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