Following The Money: Institution’s Growing Stake In NewAge Inc. (NASDAQ: NBEV)


    BlackRock Fund Advisors has recently announced that it has increased stake in NewAge Inc. (NASDAQ:NBEV) by 11.43%. After grabbing 5.45 million shares, the institutional investor is now in possession of 0.56 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 5.88% having worth around $12.36 million. Moreover, The Vanguard Group, Inc. increased its share by 1.36 million to have a control over 5.25 million shares. And Geode Capital Management LLC raised its holdings to 67820.0 shares by acquiring 1.2 million shares or 1.30% of the stake.

    NewAge Inc. (NBEV) concluded trading on 08/27/20 at a closing price of $2.11, with 1.39 million shares of worth about $2.94 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -4.52% during that period and on Thursday the price saw a loss of about 0.00%. Currently the company’s common shares owned by public are about 93.00M shares, out of which, 88.37M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the NBEV stock and their offered price forecasts bring an average price target of $6.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $7.00 and could fall to a lowest price of $5.00. Analysts also issued an outlook of 2.30 for the NewAge Inc. stock for next 12 months. However, touching the estimated high of $7.00 would mean a gain of 69.86% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 15 times over the past 12 months. They bought 901,109 shares in 11 of the transactions. In 4 selling transactions, insiders dumped 845,000 shares.

    Nationwide Small Cap Index Fund, Nationwide VIT – Small Cap Index, and Bridge Builder Small/Mid Cap Grow are the top 3 mutual funds which are holding stakes in NewAge Inc. Nationwide Small Cap Index Fund is currently holding 8673.0 shares of worth totaling $0.0. The company recently came buying 0.0 shares which brought its stake up to 0.00% of the company’s outstanding shares. Bridge Builder Small/Mid Cap Grow, after buying 20811.0 shares, have now control over 0.00% of the stake in the company. It holds 0.0 shares of worth $0.0.

    NewAge Inc. (NASDAQ: NBEV) started trading at $2.11, below $0.0 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $2.11, or with a loss of 0.00%. Stock saw a price change of -4.52% in past 5 days and over the past one month there was a price change of -8.66%. Year-to-date (YTD), NBEV shares are showing a performance of 15.93% which decreased to -33.02% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.98 but also hit the highest price of $3.59 during that period. While comparing its average daily trading volume of 3.13 million shares, we see that about 1.39 million changed hands on the day. The stock is currently trading -4.19% below its 20-day simple moving average (SMA20), while that difference is up 9.99% for SMA50 and it goes to 17.96% higher than SMA200.

    BlackRock Fund Advisors acquired 5.45 million shares of NewAge Inc. having value of about $12.36 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.56 million shares in the company valued at close to $1178513.07, or have control over 11.43% stake in the company. NewAge Inc. (NASDAQ: NBEV) currently have 93.00M outstanding shares and institutions hold larger chunk of about 22.90% of that. Holding of mutual funds in the company is about 0.00% while other institutional holders and individual stake holders have control over 0.00% and — of the stake respectively.

    The stock has a current market capitalization of $210.03M and its 3Y-monthly beta is at 1.80. It has posted earnings per share of -$1.21 in the same period. It has Quick Ratio of 1.00 while making debt-to-equity ratio of 0.37. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NBEV, volatility over the week remained 4.81% while standing at 6.87% over the month.

    Analysts are in expectations that NewAge Inc. (NBEV) stock would likely to be making an EPS of -$0.06 in the current quarter, while forecast for next quarter ESPS is -$0.02 and it is $0.22 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.07 which is -$0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -345.10% while it is estimated to increase by 168.80% in next year.

    Analysts at 3 brokerage firms have issued recommendations for the NewAge Inc. (NBEV)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 3 Wall Street analysts, 2 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Alliance Global Partners on November 15, 2019 offering a Buy rating for the stock and assigned a target price range of between $6 and $3.50 to it. Coverage by Northland Capital stated NewAge Inc. (NBEV) stock as a Market perform in their note to investors on July 22, 2019, suggesting a price target of for the stock. On March 26, 2019, Alliance Global Partners Initiated their recommendations, while on September 21, 2018, Maxim Group Downgrade their ratings for the stock with a price target of. Stock get an Outperform rating from Northland Capital on September 04, 2018.


    Please enter your comment!
    Please enter your name here