NewAge Inc. [NASDAQ: NBEV] loss -6.85% or -0.02 points to close at $0.20 with a heavy trading volume of 2192638 shares. The company report on August 18, 2022 that NewAge, Inc. Receives Nasdaq Notice on Late Filing of its Form 10-Q.
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NewAge, Inc. (Nasdaq: NBEV) (the “Company” or “NewAge”), announced that on August 12, 2022 it received an additional delinquency notice from the Nasdaq Stock Market, dated August 11, 2022 (the “August Notice”), notifying the Company that it is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule”) due to the Company’s failure to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 (the “June 30 Form 10-Q”) with the Securities and Exchange Commission (the “SEC”). The Rule requires listed companies to timely file all periodic financial reports with the SEC.
As previously disclosed, the Company received notices from Nasdaq on April 1, 2022 and May 12, 2022 (the “Prior Notices”) notifying the Company that it was not in compliance with the Rule due to the delay in the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the “Form 10-K”) and the delay in the filing of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 (the “March Form 10-Q”), respectively.
It opened the trading session at $0.218, the shares rose to $0.23 and dropped to $0.2001, the range by which the price of stock traded the whole day. The daily chart for NBEV points out that the company has recorded -69.34% loss over the past six months. However, it is still 4.76% higher than its most recent low trading price.
If we look at the average trading volume of 1.48M shares, NBEV reached to a volume of 2192638 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 0.07. The Price to Book ratio for the last quarter was 0.14, 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 -12.68. With this latest performance, NBEV shares dropped by -27.94% in over the last four-week period, additionally sinking by -69.34% over the last 6 months – not to mention a drop of -88.62% 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 24.55, with the RSI for the last a single of trading hit 15.80, and the three-weeks RSI is set at 31.28 for NewAge Inc. [NBEV]. The present Moving Average for the last 50 days of trading for this stock 0.2737, while it was recorded at 0.2149 for the last single week of trading, and 0.6134 for the last 200 days.
NewAge Inc. [NBEV]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and NewAge Inc. [NBEV] shares currently have an operating margin of -9.86 and a Gross Margin at +60.46. NewAge Inc.’s Net Margin is presently recorded at -14.08.
Return on Total Capital for NBEV is now -13.38, given the latest momentum, and Return on Invested Capital for the company is -21.30. Return on Equity for this stock declined to -33.09, with Return on Assets sitting at -11.31. When it comes to the capital structure of this company, NewAge Inc. [NBEV] has a Total Debt to Total Equity ratio set at 63.55. Additionally, NBEV Total Debt to Total Capital is recorded at 38.86, with Total Debt to Total Assets ending up at 20.81. Long-Term Debt to Equity for the company is recorded at 46.62, with the Long-Term Debt to Total Capital now at 28.09.
Reflecting on the efficiency of the workforce at the company, NewAge Inc. [NBEV] managed to generate an average of -$34,910 per employee. Receivables Turnover for the company is 22.13 with a Total Asset Turnover recorded at a value of 0.80.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 $5 million, or 17.70% of NBEV stock, in the hands of institutional investors. The top three institutional holders of NBEV stocks are: VANGUARD GROUP INC with ownership of 5,668,443, which is approximately -10.524% of the company’s market cap and around 2.45% of the total institutional ownership; SABBY MANAGEMENT, LLC, holding 4,048,211 shares of the stock with an approximate value of $0.82 million in NBEV stocks shares; and TREK FINANCIAL, LLC, currently with $0.69 million in NBEV stock with ownership of nearly 422.292% of the company’s market capitalization.
Positions in NewAge Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 36 institutional holders increased their position in NewAge Inc. [NASDAQ:NBEV] by around 6,542,310 shares. Additionally, 47 investors decreased positions by around 14,910,899 shares, while 23 investors held positions by with 4,381,369 shares. The mentioned changes placed institutional holdings at 25,834,578 shares, according to the latest SEC report filing. NBEV stock had 18 new institutional investments in for a total of 2,660,743 shares, while 24 institutional investors sold positions of 2,430,964 shares during the same period.