NewAge, Inc. (NASDAQ:NBEV) Short Interest Up 21.9% in April

NewAge, Inc. (NASDAQ:NBEVGet Rating) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 11,150,000 shares, a growth of 21.9% from the April 15th total of 9,150,000 shares. Based on an average trading volume of 867,100 shares, the days-to-cover ratio is presently 12.9 days. Currently, 8.5% of the shares of the company are short sold.

NBEV opened at $0.42 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 1.42. NewAge has a fifty-two week low of $0.26 and a fifty-two week high of $2.58. The firm’s fifty day moving average is $0.48 and its 200 day moving average is $0.82. The stock has a market cap of $57.45 million, a price-to-earnings ratio of -1.31 and a beta of 1.33.

Separately, Zacks Investment Research upgraded shares of NewAge from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 27th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBEV. Merlin Capital LLC purchased a new position in shares of NewAge during the 4th quarter valued at $1,320,000. Prescott Group Capital Management L.L.C. purchased a new position in shares of NewAge during the 4th quarter valued at $1,175,000. Trek Financial LLC purchased a new position in shares of NewAge during the 3rd quarter valued at $931,000. Marshall Wace LLP purchased a new position in shares of NewAge during the 3rd quarter valued at $804,000. Finally, Morgan Stanley lifted its stake in shares of NewAge by 42.2% during the 3rd quarter. Morgan Stanley now owns 860,731 shares of the company’s stock valued at $1,196,000 after buying an additional 255,514 shares in the last quarter. Institutional investors own 25.95% of the company’s stock.

About NewAge (Get Rating)

NewAge, Inc develops, markets, sells, and distributes healthy products in the United States, Japan, China, and internationally. The company operates in two segments, Direct / Social Selling and Direct Store. It provides health and wellness, energy drink, essential oil and anti-aging skincare, cosmetic, beverage, snacks, water and air filtration, and personal care products, as well as weight management, nutritional supplement, nutraceutical, and slenderiize products; diagnostic products, such as DNA testing and diagnostic kits and products; and CBD products.

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