Craft Brew Alliance Inc (NASDAQ:BREW) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 833,700 shares, a drop of 10.2% from the December 15th total of 927,900 shares. Currently, 7.4% of the company’s shares are sold short. Based on an average daily volume of 357,000 shares, the days-to-cover ratio is currently 2.3 days.

Large investors have recently modified their holdings of the company. Nuveen Asset Management LLC bought a new stake in shares of Craft Brew Alliance during the 2nd quarter valued at about $2,092,000. BlackRock Inc. lifted its stake in shares of Craft Brew Alliance by 16.1% in the 2nd quarter. BlackRock Inc. now owns 784,658 shares of the company’s stock valued at $10,977,000 after purchasing an additional 109,016 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Craft Brew Alliance in the 4th quarter valued at approximately $1,717,000. Morgan Stanley lifted its stake in shares of Craft Brew Alliance by 97.1% in the 2nd quarter. Morgan Stanley now owns 135,167 shares of the company’s stock valued at $1,891,000 after purchasing an additional 66,590 shares during the last quarter. Finally, Walleye Trading LLC bought a new stake in shares of Craft Brew Alliance in the 2nd quarter valued at approximately $440,000. 42.14% of the stock is owned by institutional investors.

Several brokerages have recently issued reports on BREW. Cowen cut Craft Brew Alliance from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 27th. MKM Partners started coverage on Craft Brew Alliance in a research note on Thursday, September 19th. They set a “neutral” rating and a $16.00 price target on the stock. Maxim Group cut Craft Brew Alliance from a “buy” rating to a “hold” rating and upped their price target for the stock from $16.00 to $16.50 in a research note on Tuesday, November 12th. Zacks Investment Research cut Craft Brew Alliance from a “hold” rating to a “strong sell” rating in a research note on Friday, January 3rd. Finally, ValuEngine upgraded Craft Brew Alliance from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $23.79.

NASDAQ:BREW traded up $0.01 during mid-day trading on Thursday, reaching $16.48. The stock had a trading volume of 5,655 shares, compared to its average volume of 118,563. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.33. The firm has a market capitalization of $320.67 million, a price-to-earnings ratio of 78.43 and a beta of 0.98. Craft Brew Alliance has a twelve month low of $7.11 and a twelve month high of $17.40. The business has a 50 day simple moving average of $16.48 and a 200 day simple moving average of $12.90.

Craft Brew Alliance (NASDAQ:BREW) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.07). The company had revenue of $50.30 million for the quarter, compared to analyst estimates of $56.88 million. Craft Brew Alliance had a negative net margin of 3.10% and a negative return on equity of 3.32%. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, sell-side analysts expect that Craft Brew Alliance will post -0.01 earnings per share for the current year.

About Craft Brew Alliance

Craft Brew Alliance, Inc brews and sells craft beers and ciders in the United States and internationally. It operates through two segments, Beer Related Operations and Brewpubs Operations. It offers beers under the Kona, Omission, Appalachian Mountain, Cisco, Redhook, Widmer Brothers, and Wynwood brands; and ciders under the Square Mile brand name.

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