New Age Beverages Corporation (NBEV) Gets a Hold Rating from Maxim Group

In a report released today, Anthony Vendetti from Maxim Group maintained a Hold rating on New Age Beverages Corporation (NBEV). The company’s shares opened today at $5.44.

Vendetti said:

“NBEV reported 4Q18 revenue above our estimate, we believe due to 10 days of Morinda revenue following its acquisition on 12/21/2018. Operating loss was wider than expected, due primarily to acquisition-related costs. We are adjusting our estimates to account for the addition of Morinda, which we expect to provide about 80% of total NBEV revenue at a historically-stable 80% gross margin, 6% operating margin, and 8% EBITDA margin.”

According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 6.1% and a 52.6% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Ra Medical Systems Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for New Age Beverages Corporation with a $8 average price target.

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The company has a one-year high of $9.99 and a one-year low of $1.30. Currently, New Age Beverages Corporation has an average volume of 8.41M.

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New Age Beverages Corp. is a beverage company, which engages in the development, marketing, sales and distribution of Ready-to-Drink beverages. Its brand includes coco libre, Xing tea, Xing Energy, Aspen Pure, Bucha Live Kombucha, MELLOW MOOD, and ONE DROP. The company was founded by Neil Fallon on April 26, 2010 and is headquartered in Denver, CO.

 

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