In a report released today, Michael Grondahl from Northland Securities maintained a Hold rating on NewAge (NBEV). The company’s shares closed last Monday at $2.91, close to its 52-week high of $3.29.
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 18.8% and a 62.6% success rate. Grondahl covers the Financial sector, focusing on stocks such as Altisource Portfolio Solutions SA, International Money Express, and Front Yard Residential.
The the analyst consensus on NewAge is currently a Hold rating.
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Based on NewAge’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $62.64 million and GAAP net loss of $9.55 million. In comparison, last year the company earned revenue of $66.35 million and had a GAAP net loss of $11.68 million.
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New Age Beverages Corp. is a beverage company, which engages in the development, marketing, sales and distribution of Ready-to-Drink beverages. Its brands include Marley, Xing, Bucha, CoCo libre and WaterisLife. The company was founded by Neil Fallon on April 26, 2010 and is headquartered in Denver, CO.
