Timpani Capital Management LLC raised its stake in shares of New Age Beverage Corporation (NASDAQ:NBEV) by 43.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 308,471 shares of the company’s stock after acquiring an additional 93,817 shares during the quarter. Timpani Capital Management LLC owned approximately 0.99% of New Age Beverage Corporation worth $1,582,000 as of its most recent filing with the SEC.
Separately, Blair William & Co. IL acquired a new stake in New Age Beverage Corporation in the second quarter worth about $577,000. Hedge funds and other institutional investors own 14.01% of the company’s stock.
Several research firms have recently issued reports on NBEV. TheStreet lowered New Age Beverage Corporation from a “c” rating to a “d+” rating in a research report on Monday, August 7th. Zacks Investment Research upgraded New Age Beverage Corporation from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research note on Saturday, September 9th. Roth Capital started coverage on New Age Beverage Corporation in a research note on Thursday, July 27th. They issued a “buy” rating and a $7.50 target price on the stock. Finally, Maxim Group boosted their target price on New Age Beverage Corporation from $6.00 to $7.50 and gave the company a “buy” rating in a research note on Monday, May 22nd. Four analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $6.44.
In related news, Director Timothy J. Haas acquired 85,000 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were purchased at an average cost of $3.49 per share, with a total value of $296,650.00. Following the completion of the acquisition, the director now directly owns 30,000 shares of the company’s stock, valued at $104,700. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Neil Fallon sold 38,881 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $4.53, for a total transaction of $176,130.93. Following the sale, the director now directly owns 5,354,858 shares in the company, valued at $24,257,506.74. The disclosure for this sale can be found here. Corporate insiders own 48.59% of the company’s stock.
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New Age Beverage Corporation (NASDAQ NBEV) traded up 2.36% during mid-day trading on Friday, hitting $3.90. The stock had a trading volume of 250,037 shares. The stock has a market capitalization of $133.89 million, a P/E ratio of 229.41 and a beta of 4.74. New Age Beverage Corporation has a 52 week low of $1.28 and a 52 week high of $7.20. The company’s 50 day moving average is $4.37 and its 200-day moving average is $4.58.
New Age Beverage Corporation Company Profile
The New Age Beverage Corporation, formerly Bucha, Inc, is a healthy functional beverage company. The Company is the owner of XingTea, XingEnergy, Aspen Pure and the Bucha Live Kombucha brands. The Company’s bucha Live Kombucha is a gluten free, organic certified, sparkling kombucha tea and is distributed in health and grocery chains across North America.
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