NewAge Inc. (NASDAQ: NBEV) Shares Could Drop Up To -276.98% – Marketing Sentinel
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NewAge Inc. (NASDAQ: NBEV) Shares Could Drop Up To -276.98%

In the last trading session, 7.38 million shares of the NewAge Inc. (NASDAQ:NBEV) were traded, and its beta was 0.99. Most recently the company’s share price was $1.26, and it changed around -$0.37 or -22.70% from the last close, which brings the market valuation of the company to $194.34M. NBEV currently trades at a discount to its 52-week high of $4.55, offering almost -261.11% off that amount. The share price’s 52-week low was $1.16, which indicates that the current value has risen by an impressive 7.94% since then. We note from NewAge Inc.’s average daily trading volume that its 3-month average coming to 1.27 million.

NewAge Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.30. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended NBEV as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. NewAge Inc. is expected to report earnings per share of -$0.03 for the current quarter.

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NewAge Inc. (NASDAQ:NBEV) trade information

Instantly NBEV has showed a red trend with a performance of -22.70% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 1.7400 on Tuesday, 11/23/21 increased the stock’s daily price by 27.59%. The company’s shares are currently down -52.09% year-to-date, but still down -3.82% over the last five days. On the other hand, NewAge Inc. (NASDAQ:NBEV) is -18.18% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $4.38, which translates to bulls needing to increase their stock price by 71.23% from its current value. Analyst projections state that NBEV is forecast to be at a low of $4.00 and a high of $4.75. In order for the stock price to hit the forecast high, the stock would need to plunge -276.98% from its current level, while the stock would need to crash -217.46% from its current level to reach the projected low.

NewAge Inc. (NBEV) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 78.60% in revenue this quarter, and will report an increase of 75.00% in the next quarter. The year-over-year growth rate is expected to be 78.90%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $123.8 million in revenue for the current quarter. 3 analysts expect NewAge Inc. to make $126.75 million in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $62.72 million and $90.4 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 97.40%. Forecasts for the next quarter put sales growth at 40.20%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -45.30%.

NBEV Dividends

NewAge Inc.’s next quarterly earnings report is expected to be released around November 08 and November 12.

NewAge Inc. (NASDAQ:NBEV)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 2.58% of NewAge Inc. shares, and 24.57% of them are in the hands of institutional investors. The stock currently has a share float of 25.22%. NewAge Inc. stock is held by 124 institutions, with Blackrock Inc. being the largest institutional investor. By Sep 29, 2021, it held 6.37% of the shares, which is about 8.71 million shares worth $12.11 million.

Vanguard Group, Inc. (The), with 4.81% or 6.58 million shares worth $9.15 million as of Sep 29, 2021, holds the second largest percentage of outstanding shares.

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Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2021. The former held 3.77 million shares worth $8.41 million, making up 2.76% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 3.07 million shares worth around $4.27 million, which represents about 2.24% of the total shares outstanding.

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