New Age Beverages (NBEV) Shares Gap Down to $5.31

New Age Beverages Corp (NASDAQ:NBEV)’s share price gapped down before the market opened on Friday . The stock had previously closed at $5.44, but opened at $5.31. New Age Beverages shares last traded at $5.06, with a volume of 3651218 shares trading hands.

NBEV has been the subject of several research analyst reports. Zacks Investment Research upgraded New Age Beverages from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a report on Thursday, April 4th. Northland Securities restated a “buy” rating and set a $8.00 price target on shares of New Age Beverages in a report on Monday, April 1st. Alliance Global Partners initiated coverage on New Age Beverages in a report on Tuesday, March 26th. They set a “buy” rating and a $8.00 price target for the company. TheStreet upgraded New Age Beverages from a “d+” rating to a “c-” rating in a report on Friday, February 22nd. Finally, Maxim Group restated a “hold” rating on shares of New Age Beverages in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.95.

The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.25.

In other news, Director Reginald Kapteyn sold 18,000 shares of New Age Beverages stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $5.20, for a total value of $93,600.00. Following the completion of the transaction, the director now owns 68,812 shares in the company, valued at approximately $357,822.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brent D. Willis sold 150,000 shares of New Age Beverages stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $4.76, for a total value of $714,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 318,000 shares of company stock valued at $1,703,100. Company insiders own 4.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC boosted its holdings in shares of New Age Beverages by 5,012.7% in the 1st quarter. Advisory Services Network LLC now owns 10,072 shares of the company’s stock worth $53,000 after purchasing an additional 9,875 shares during the period. B. Riley Wealth Management Inc. purchased a new position in shares of New Age Beverages in the 1st quarter worth approximately $127,000. Bluefin Trading LLC boosted its holdings in shares of New Age Beverages by 228.4% in the 1st quarter. Bluefin Trading LLC now owns 19,000 shares of the company’s stock worth $100,000 after purchasing an additional 33,800 shares during the period. BlueCrest Capital Management Ltd lifted its stake in shares of New Age Beverages by 51.4% during the 1st quarter. BlueCrest Capital Management Ltd now owns 54,350 shares of the company’s stock worth $286,000 after acquiring an additional 18,452 shares during the last quarter. Finally, Man Group plc bought a new stake in shares of New Age Beverages during the 1st quarter worth approximately $114,000. Hedge funds and other institutional investors own 13.83% of the company’s stock.

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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.

Further Reading: What is a Leveraged Buyout (LBO)?

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