NewAge Inc. [NBEV] Revenue clocked in at $439.50 million, down -74.55% YTD: What’s Next?

NewAge Inc. [NASDAQ: NBEV] gained 0.19% on the last trading session, reaching $0.26 price per share at the time. The company report on July 8, 2022 that NewAge, Inc. Announces Departure of Chief Financial Officer and Appointment of Principal Financial Officer.

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NewAge, Inc. (Nasdaq: NBEV) (the “Company” or “NewAge”), today announced that Kevin Manion, Chief Financial Officer, departed the Company as of July 1, 2022. Lawrence Perkins, who along with his firm SierraConstellation Partners LLC have been engaged to provide Chief Restructuring Officer (CRO) and other services to the Company, will assume the role of the Company’s principal financial officer on an interim basis.

“On behalf of NewAge, I want to thank Kevin for his contributions to our team. Kevin joined us in the middle of a major integration, and he resolved many operating issues for us. We wish him all the best,” said Ed Brennan, NewAge’s Chairman and interim Chief Executive Officer. “Larry and his team have been up and running here at the company for more than two months, so we expect a seamless transition as we continue our efforts to position the company for long-term success.”.

NewAge Inc. represents 151.41 million in outstanding shares, while the company has a total market value of $39.77 million with the latest information. NBEV stock price has been found in the range of $0.255 to $0.295.

If compared to the average trading volume of 1.73M shares, NBEV reached a trading volume of 4647574 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about NewAge Inc. [NBEV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NBEV shares is $3.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NBEV stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Alliance Global Partners have made an estimate for NewAge Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 15, 2019. The new note on the price target was released on July 22, 2019, representing the official price target for NewAge Inc. stock. Previously, the target price had yet another raise to $8, while Alliance Global Partners analysts kept a Buy rating on NBEV stock.

The Average True Range (ATR) for NewAge Inc. is set at 0.02, with the Price to Sales ratio for NBEV stock in the period of the last 12 months amounting to 0.09. The Price to Book ratio for the last quarter was 0.18, with the Price to Cash per share for the same quarter was set at 0.31.

Trading performance analysis for NBEV stock

NewAge Inc. [NBEV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.71. With this latest performance, NBEV shares dropped by -15.18% in over the last four-week period, additionally sinking by -64.00% over the last 6 months – not to mention a drop of -86.83% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NBEV stock in for the last two-week period is set at 40.28, with the RSI for the last a single of trading hit 35.98, and the three-weeks RSI is set at 41.88 for NewAge Inc. [NBEV]. The present Moving Average for the last 50 days of trading for this stock 0.3011, while it was recorded at 0.2652 for the last single week of trading, and 0.6922 for the last 200 days.

NewAge Inc. [NBEV]: A deeper dive into fundamental analysis

NewAge Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.40.

An analysis of insider ownership at NewAge Inc. [NBEV]

There are presently around $9 million, or 22.70% of NBEV stock, in the hands of institutional investors. The top three institutional holders of NBEV stocks are: BLACKROCK INC. with ownership of 8,656,587, which is approximately -1.058% of the company’s market cap and around 2.45% of the total institutional ownership; VANGUARD GROUP INC, holding 6,335,140 shares of the stock with an approximate value of $1.66 million in NBEV stocks shares; and SABBY MANAGEMENT, LLC, currently with $1.04 million in NBEV stock with ownership of nearly 65.197% of the company’s market capitalization.

28 institutional holders increased their position in NewAge Inc. [NASDAQ:NBEV] by around 3,075,787 shares. Additionally, 57 investors decreased positions by around 6,549,412 shares, while 23 investors held positions by with 23,286,557 shares. The mentioned changes placed institutional holdings at 32,911,756 shares, according to the latest SEC report filing. NBEV stock had 12 new institutional investments in for a total of 714,677 shares, while 23 institutional investors sold positions of 5,040,425 shares during the same period.


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