New Age Beverages Corp (NASDAQ:NBEV) shares gapped up before the market opened on Friday . The stock had previously closed at $2.27, but opened at $2.76. New Age Beverages shares last traded at $3.20, with a volume of 3384800 shares traded.

Several brokerages have weighed in on NBEV. Zacks Investment Research raised shares of New Age Beverages from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Aegis reaffirmed a “buy” rating on shares of New Age Beverages in a research note on Monday, December 4th. Finally, Maxim Group lowered their target price on shares of New Age Beverages from $7.50 to $6.00 and set a “buy” rating for the company in a research note on Friday, November 17th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $5.63.

The company has a quick ratio of 1.26, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. The company has a market cap of $135.69, a P/E ratio of -106.67 and a beta of 3.54.

New Age Beverages (NASDAQ:NBEV) last announced its earnings results on Tuesday, November 14th. The company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.03). New Age Beverages had a negative return on equity of 0.58% and a negative net margin of 0.41%. research analysts predict that New Age Beverages Corp will post 0.06 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC lifted its position in shares of New Age Beverages by 18.1% during the second quarter. HighTower Advisors LLC now owns 22,346 shares of the company’s stock worth $114,000 after purchasing an additional 3,428 shares in the last quarter. Northern Trust Corp acquired a new stake in shares of New Age Beverages during the second quarter worth about $151,000. Virtu KCG Holdings LLC lifted its position in shares of New Age Beverages by 119.9% during the second quarter. Virtu KCG Holdings LLC now owns 33,353 shares of the company’s stock worth $170,000 after purchasing an additional 18,189 shares in the last quarter. Cadence Capital Management LLC acquired a new stake in shares of New Age Beverages during the third quarter worth about $981,000. Finally, EAM Investors LLC acquired a new stake in shares of New Age Beverages during the second quarter worth about $1,104,000. 12.78% of the stock is currently owned by institutional investors and hedge funds.

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About New Age Beverages

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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