New Age Beverages (NASDAQ:NBEV) Shares Gap Down Following Weak Earnings

New Age Beverages Corp (NASDAQ:NBEV) gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $2.71, but opened at $2.49. New Age Beverages shares last traded at $2.21, with a volume of 3,442,100 shares traded.

The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.09). New Age Beverages had a negative net margin of 12.78% and a negative return on equity of 17.70%. The business had revenue of $69.80 million for the quarter, compared to analysts’ expectations of $69.95 million. The company’s revenue was up 428.8% on a year-over-year basis.

Several brokerages have recently commented on NBEV. ValuEngine upgraded New Age Beverages from a “hold” rating to a “buy” rating in a report on Friday, September 20th. TheStreet downgraded New Age Beverages from a “c-” rating to a “d+” rating in a research report on Thursday, August 22nd. Northland Securities assumed coverage on New Age Beverages in a research report on Thursday. They issued a “hold” rating and a $3.50 target price on the stock. Zacks Investment Research raised New Age Beverages from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Alliance Global Partners cut their target price on New Age Beverages from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $6.35.

In other New Age Beverages news, CEO Brent D. Willis sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $2.73, for a total transaction of $68,250.00. Following the sale, the chief executive officer now directly owns 1,479,367 shares of the company’s stock, valued at approximately $4,038,671.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Advisor Group Inc. grew its position in shares of New Age Beverages by 24.5% during the 2nd quarter. Advisor Group Inc. now owns 24,270 shares of the company’s stock valued at $112,000 after acquiring an additional 4,770 shares during the period. WINTON GROUP Ltd lifted its stake in New Age Beverages by 47.9% in the 2nd quarter. WINTON GROUP Ltd now owns 28,935 shares of the company’s stock valued at $135,000 after buying an additional 9,374 shares in the last quarter. Brookstone Capital Management lifted its stake in New Age Beverages by 99.2% in the 2nd quarter. Brookstone Capital Management now owns 22,582 shares of the company’s stock valued at $105,000 after buying an additional 11,247 shares in the last quarter. Lindbrook Capital LLC lifted its stake in New Age Beverages by 230.0% in the 3rd quarter. Lindbrook Capital LLC now owns 16,500 shares of the company’s stock valued at $46,000 after buying an additional 11,500 shares in the last quarter. Finally, Cetera Advisor Networks LLC purchased a new position in New Age Beverages in the 2nd quarter valued at about $61,000. Hedge funds and other institutional investors own 21.23% of the company’s stock.

The company has a quick ratio of 1.24, a current ratio of 1.65 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average is $2.73 and its two-hundred day moving average is $3.83.

New Age Beverages Company Profile (NASDAQ:NBEV)

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.

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