New Age Beverages (NBEV) Shares Gap Down to $4.96

New Age Beverages Corp (NASDAQ:NBEV) shares gapped down prior to trading on Friday . The stock had previously closed at $5.06, but opened at $4.96. New Age Beverages shares last traded at $4.78, with a volume of 4842753 shares changing hands.

NBEV has been the topic of a number of recent research reports. Zacks Investment Research cut shares of New Age Beverages from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. BidaskClub downgraded shares of New Age Beverages from a “buy” rating to a “hold” rating in a research note on Saturday, February 9th. TheStreet raised shares of New Age Beverages from a “d+” rating to a “c-” rating in a research report on Friday, February 22nd. Northland Securities raised their target price on shares of New Age Beverages from $6.00 to $8.00 and gave the company a “sell” rating in a research note on Monday, January 7th. Finally, ValuEngine upgraded shares of New Age Beverages from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, two 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 $6.95.

The company has a quick ratio of 12.38, a current ratio of 15.69 and a debt-to-equity ratio of 0.04.

A number of institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. grew its position in New Age Beverages by 439.3% in the fourth quarter. Advisor Group Inc. now owns 10,785 shares of the company’s stock valued at $56,000 after acquiring an additional 8,785 shares in the last quarter. United Services Automobile Association acquired a new position in shares of New Age Beverages during the fourth quarter worth $57,000. GSA Capital Partners LLP purchased a new position in shares of New Age Beverages in the fourth quarter valued at $63,000. Creative Planning purchased a new position in shares of New Age Beverages in the fourth quarter valued at $72,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of New Age Beverages by 19.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 16,865 shares of the company’s stock valued at $88,000 after purchasing an additional 2,779 shares during the period. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

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About New Age Beverages (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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