Is NewAge Inc. (NASDAQ: NBEV) Still A Buy After A -2.32% Weekly Drop? – Marketing Sentinel
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Is NewAge Inc. (NASDAQ: NBEV) Still A Buy After A -2.32% Weekly Drop?

During the last session, NewAge Inc. (NASDAQ:NBEV)’s traded shares were 0.89 million, with the beta value of the company hitting 1.59. At the end of the trading day, the stock’s price was $0.26, reflecting an intraday loss of -3.23% or -$0.01. The 52-week high for the NBEV share is $2.29, that puts it down -780.77 from that peak though still a striking 19.23% gain since the share price plummeted to a 52-week low of $0.21. The company’s market capitalization is $40.37M, and the average intraday trading volume over the past 10 days was 0.74 million shares, and the average trade volume was 1.72 million shares over the past three months.

NewAge Inc. (NBEV) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.30. NBEV has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.06.

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NewAge Inc. (NASDAQ:NBEV) trade information

NewAge Inc. (NBEV) registered a -3.23% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.23% in intraday trading to $0.26 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is -2.32%, and it has moved by -18.59% in 30 days. Based on these gigs, the overall price performance for the year is -86.95%. The short interest in NewAge Inc. (NASDAQ:NBEV) is 4.78 million shares and it means that shorts have 2.32 day(s) to cover.

The consensus price target of analysts on Wall Street is $3.15, which implies an increase of 91.75% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.15 and $3.15 respectively. As a result, NBEV is trading at a discount of -1111.54% off the target high and -1111.54% off the low.

NewAge Inc. (NBEV) estimates and forecasts

In the rating firms’ projections, revenue will increase 63.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $100.17 million as predicted by 1 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $110.79 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $90.4 million and $125.52 million respectively. In this case, analysts expect current quarter sales to grow by 10.80% and then drop by -11.70% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -45.30%. While earnings are projected to return 64.90% in 2022.

NBEV Dividends

NewAge Inc. is due to release its next quarterly earnings between March 14 and March 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

NewAge Inc. insiders own 2.45% of total outstanding shares while institutional holders control 22.70%, with the float percentage being 23.27%. Blackrock Inc. is the largest shareholder of the company, while 120 institutions own stock in it. As of Mar 30, 2022, the company held over 8.66 million shares (or 6.33% of all shares), a total value of $5.03 million in shares.

The next largest institutional holding, with 6.34 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 4.63% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $3.68 million.

Also, the Mutual Funds coming in first place with the largest holdings of NewAge Inc. (NBEV) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 3.46 million shares. This amounts to just over 2.53 percent of the company’s overall shares, with a $2.01 million market value. The same data shows that the other fund manager holds slightly less at 1.87 million, or about 1.37% of the stock, which is worth about $1.09 million.

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