NewAge Inc. (NBEV) Testing Investors’ Patience Right Now


BlackRock Fund Advisors recently announced the acquisition of new stake in NewAge Inc. (NASDAQ:NBEV). The institutional investor has increased its shareholding in the Consumer Defensive company by 11.43% to 5.45 million shares with purchase of 0.56 million shares. This fresh investment now brings its stake to 5.88% valued currently at $12.36 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.36 million to 5.25 million shares. And Geode Capital Management LLC has lifted its position by 5.97% or 67820.0 shares – to 1.2 million shares.

With over 2.19 million NewAge Inc. (NBEV) shares trading Monday and a closing price of $2.07 on the day, the dollar volume was approximately $4.52 million. The shares have shown a negative weekly performance of -5.05% and its price on 08/24/20 lost nearly -4.61%. Currently, there are 93.00M common shares owned by the public and among those 88.37M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for NBEV have a consensus price objective of $6.00. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the NewAge Inc. stock is 2.30 for the next 12 months. But an upside of 70.43% will see the stock hit the forecast high price target while mean target price for the stock is $6.00.

Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 901,109 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 845,000 shares.

The top 3 mutual fund holders in NewAge Inc. are Nationwide Small Cap Index Fund, Nationwide VIT – Small Cap Index, and Bridge Builder Small/Mid Cap Grow. Nationwide Small Cap Index Fund owns 8673.0 shares of the company’s stock, all valued at over $0.0. Bridge Builder Small/Mid Cap Grow now owns shares totaling to 0.00% of the shares outstanding.

Shares of NewAge Inc. (NASDAQ: NBEV) opened at $2.17, unchanged from a prior closing price of $2.17. However, the script later closed the day at $2.07, down -4.61%. The company’s stock has a 5-day price change of -5.05% and 26.99% over the past three months. NBEV shares are trading 13.74% year to date (YTD), with the 12-month market performance down to -38.58% lower. It has a 12-month low price of $0.98 and touched a high of $3.59 over the same period. Currently, 2.19 million shares have been traded, compared to an average intraday trading volume of 3.21 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.07%, 9.33%, and 15.22% respectively.

Institutional ownership of NewAge Inc. (NASDAQ: NBEV) shares accounts for 22.90% of the company’s 93.00M shares outstanding. Mutual fund holders own 0.00%, while other institutional holders and individual stakeholders account for 0.00% and — respectively.

It has a market capitalization of $206.05M and a beta (3y monthly) value of 1.80. The earnings-per-share (ttm) stands at -$1.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.31% over the week and 7.27% over the month.

Analysts forecast that NewAge Inc. (NBEV) will achieve an EPS of -$0.06 for the current quarter, -$0.02 for the next quarter and $0.22 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.05. Comparatively, EPS for the current quarter was -$0.14 a year ago. Earnings per share for the fiscal year are expected to decrease by -345.10%, and 168.80% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate NewAge Inc. (NBEV) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the NBEV, a number of firms have released research notes about the stock. Alliance Global Partners stated their Buy rating for the stock in a research note on November 15, 2019, with the firm’s price target at $6-$3.50. Northland Capital coverage for the NewAge Inc. (NBEV) stock in a research note released on July 22, 2019 offered a Market Perform rating with a price target of. Alliance Global Partners was of a view on March 26, 2019 that the stock is Buy, while Maxim Group gave the stock Hold rating on September 21, 2018, issuing a price target of. Northland Capital on their part issued Outperform rating on September 04, 2018.


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