GSA Capital Partners LLP Takes Position in NewAge, Inc. (NASDAQ:NBEV)

GSA Capital Partners LLP bought a new stake in NewAge, Inc. (NASDAQ:NBEVGet Rating) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 142,248 shares of the company’s stock, valued at approximately $83,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Qube Research & Technologies Ltd purchased a new position in shares of NewAge in the 4th quarter valued at approximately $134,000. Davy Global Fund Management Ltd raised its stake in NewAge by 127.0% during the first quarter. Davy Global Fund Management Ltd now owns 338,202 shares of the company’s stock valued at $196,000 after buying an additional 189,189 shares during the last quarter. Finally, Merlin Capital LLC purchased a new position in NewAge during the fourth quarter valued at $1,320,000. Hedge funds and other institutional investors own 18.84% of the company’s stock.

NewAge Trading Up 21.3 %

Shares of NASDAQ:NBEV opened at $0.15 on Friday. The stock has a fifty day simple moving average of $0.26 and a two-hundred day simple moving average of $0.40. The stock has a market capitalization of $20.27 million, a price-to-earnings ratio of -0.46 and a beta of 1.54. NewAge, Inc. has a 12-month low of $0.12 and a 12-month high of $1.80.

Analysts Set New Price Targets

Separately, Alliance Global Partners cut NewAge from a “buy” rating to a “sell” rating in a research note on Wednesday.

About NewAge

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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.

Further Reading

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Institutional Ownership by Quarter for NewAge (NASDAQ:NBEV)

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