New Age Beverages (NBEV) PT Lowered to $3.00

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New Age Beverages (NASDAQ:NBEV) had its price target cut by Maxim Group from $5.00 to $3.00 in a research note published on Thursday. They currently have a buy rating on the stock.

A number of other research firms have also recently issued reports on NBEV. Zacks Investment Research upgraded New Age Beverages from a sell rating to a hold rating in a report on Wednesday, July 25th. ValuEngine cut New Age Beverages from a buy rating to a hold rating in a report on Wednesday, May 2nd.

NBEV opened at $1.66 on Thursday. New Age Beverages has a 52-week low of $1.56 and a 52-week high of $4.50. The company has a quick ratio of 0.74, a current ratio of 1.37 and a debt-to-equity ratio of 0.07.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in New Age Beverages during the 4th quarter valued at $227,000. Deutsche Bank AG purchased a new stake in shares of New Age Beverages in the 4th quarter worth $227,000. Timpani Capital Management LLC lifted its holdings in shares of New Age Beverages by 56.3% in the 1st quarter. Timpani Capital Management LLC now owns 160,790 shares of the company’s stock worth $389,000 after buying an additional 57,892 shares during the period. Finally, Nepsis Inc. purchased a new stake in shares of New Age Beverages in the 2nd quarter worth $3,252,000. Institutional investors own 13.54% of the company’s stock.

About New Age Beverages

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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