NewAge Inc. [NBEV] stock Reiterated by Alliance Global Partners analyst, price target now $3.50

NewAge Inc. [NASDAQ: NBEV] jumped around 0.03 points on Friday, while shares priced at $0.15 at the close of the session, up 21.28%. The company report on September 2, 2022 that NewAge, Inc. Receives Court Approval of First Day Motions.


Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now. .

Sponsored


Company Expected to Continue “Normal Course” Operations.

NewAge, Inc. (Nasdaq: NBEV) today announced that the U.S. Bankruptcy Court for the District of Delaware has granted the Company interim approval for first day motions related to its Chapter 11 restructuring. The approved motions will support the Company’s ongoing operations during its financial restructuring process.

NewAge Inc. stock is now -85.61% down from its year-to-date (YTD) trading value. NBEV Stock saw the intraday high of $0.208 and lowest of $0.1482 per share. The company’s 52-week high price is 1.80, which means current price is +23.50% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 7.01M shares, NBEV reached a trading volume of 128998665 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about NewAge Inc. [NBEV]?

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 0.05, with the Price to Sales ratio for NBEV stock in the period of the last 12 months amounting to 0.04. The Price to Book ratio for the last quarter was 0.10, with the Price to Cash per share for the same quarter was set at 0.39.

How has NBEV stock performed recently?

NewAge Inc. [NBEV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -27.00. With this latest performance, NBEV shares dropped by -45.05% in over the last four-week period, additionally sinking by -75.79% over the last 6 months – not to mention a drop of -91.77% 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 39.04, with the RSI for the last a single of trading hit 38.65, and the three-weeks RSI is set at 39.48 for NewAge Inc. [NBEV]. The present Moving Average for the last 50 days of trading for this stock 0.2624, while it was recorded at 0.2144 for the last single week of trading, and 0.5774 for the last 200 days.

NewAge Inc. [NBEV]: Deeper insight into the fundamentals

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

Insider trade positions for NewAge Inc. [NBEV]

There are presently around $4 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 $0.6 million in NBEV stocks shares; and TREK FINANCIAL, LLC, currently with $0.51 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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here