1.9100 -0.01 (-0.52%)
After hours: 5:44PM EST
|Bid||1.9100 x 1800|
|Ask||1.9700 x 1800|
|Day's Range||1.8400 - 1.9400|
|52 Week Range||1.8000 - 7.7900|
|Beta (5Y Monthly)||2.23|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 14, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||6.00|
It’s safe to say things aren’t so rosy for New Age Beverages (NBEV) stock. Shares have plummeted around 65% year-to-date in line with the trajectory of the cannabis industry in general.The company’s latest earnings report was a mixed affair. Q3 revenue increased from $13.2 million in the same period last year to $69.8 million, though the figure came in slightly below the Street’s $69.95 million estimate. The net loss, though, of $10.7 million, or $0.14 per share was bigger than the Street’s estimate of -$0.04 per share.The pertinent question right now is: Has NBEV stock bottomed out?Compass Point’s Rommel Dionisio remains bullish on NBEV’s prospects. The 4-star analyst notes that a combination of an expanding distribution platform in both the traditional retail and direct-to-consumer channels, new product introductions driving organic sales growth, and successful acquisitions such as the recent Morinda transaction, have all contributed to NBEV’s status as “one of the fastest growing beverage companies in the US in recent years.”The analyst also notes the company’s growing offerings of CBD related products as “a major near-term growth opportunity.” Dionisio concluded, “By leveraging the company's traditional retail channels in North America as well as Morinda's direct sales force in Asia, and with rapidly growing consumer acceptance around the world of the potential benefits of CBD, New Age Beverages appears well positioned to generate significant top and bottom line growth in upcoming quarters, especially once the FDA provides guidelines permitting the sale of CBD beverages and edibles.”Fittingly, Dionisio reiterates a Buy rating on NBEV alongside a bullish price target of $9.00 which could provide enormous gains of 390% from current levles. (To watch Dionisio’s track record, click here)On the other hand, Northland’s Mike Grondahl sounds a more cautious note, saying, “Morinda acquisition integration sounds fine, however, Morinda sales in China continue to be down significantly y/y due to government restrictions on MLM industry and this will probably take China from ~$80M in 2018 to ~ $50M in 2019 but September y/y were up 5% for first month of growth this year.” Furthermore, "NBEV noted WMT and 7-11 were performing below expectations. It sounds like while both retailers have blessed NBEV products, but getting products on the shelf has been challenging and that will remain a work-in-progress. It sounds like this is not a catalyst for NBEV."The 5-star analyst reiterated a Market Perform rating on NBEV, alongside a price target of $3.50. Interestingly, due to the stock’s horror of a year, the target represents a substantial upside potential of about 90%. (To watch Grondahl’s track record, click here)There is only one other analyst (from Roth Capital) currently chipping in with a view on the beverage company’s prospects, adding a further Buy rating. The consensus marks the stock as a Moderate Buy, with an average price target of $6.83, providing the risk tolerant investor massive potential gains of 272%. (See NBEV price targets and analyst ratings on TipRanks)To find good ideas for cannabis stocks trading at fair value or better, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Money flows are mostly negative or neutral in marijuana stocks, and the Food and Drug Administration’s warning is creating an overhang.
Ask Benjamin Witte about Recess, and one of the first places he’ll send you is the company’s Instagram page.
DENVER, COLORADO, Nov. 14, 2019 -- NEWAGE (NASDAQ: NBEV), the Colorado-based healthy products company, today announced financial results for the quarter ended September 30,.
Thanks to both Canadian legalization as well as the 2018 farm bill here in the states, North America has essentially become "little Amsterdam." Moreover, favorably shifting public sentiment in the U.S. has made cannabis-infused beverage companies like New Age Beverages (NASDAQ:NBEV) intriguing for both consumers and investors alike. Particularly, NBEV stock appeals for the underlying broad mixture of cannabis and general health-related drinks.Source: monticello / Shutterstock.com Still, cannabis stocks are infamous for their volatility. Due to myriad challenges, along with questions about the industry's financial viability, several investors have dumped out of their positions. Despite New Age Beverages stock not being a pure cannabis play, shares have not received an exemption from the pain. Naturally, investors remain unsure how to approach NBEV.Further adding to the pressure, New Age will release its third-quarter earnings results on Nov. 14 before the opening bell. Since Q2 2017, the company has failed to deliver positive earnings per share. As such, investors will likely want to see some meaningful pathway toward profitability for NBEV stock.InvestorPlace - Stock Market News, Stock Advice & Trading TipsGiven the rough waters of the broader cannabis industry, it's difficult to guess how the markets will respond on Thursday. Still, legal cannabis products, especially cannabis-infused beverages are incredibly popular. With that, here are three arguments for and against New Age Beverages stock: Pros: Strong Projected Growth for Cannabis BeveragesCannabis-based beverages, specifically cannabidiol or CBD-infused drinks, will be huge in the U.S. According to research firm Zenith Global, this market will hit a value of $1.4 billion at the end of 2023. To put this into context, Zenith projects CBD beverages to reach $227 million at the end of this year. * 7 Tech Stocks You Should Avoid Now In addition, companies like New Age have the opportunity to convert curious newcomers to cannabis-based products and therapies. According to an August 2019 Gallup poll, 14% of Americans say they use CBD. While impressive, this figure also leaves an ample opportunity for New Age to advantage, potentially lifting NBEV stock.Not only that, High Yield Insights performed a study revealing that the most popular CBD products are baked goods. Coming in second place are CBD gummies. While not beverages, these are consumable formats with which everyone is familiar.Therefore, it's not a stretch to assume that the folks who like CBD edibles will eventually make the switch to CBD-infused beverages. That's a potential net positive for New Age Beverages stock. Pros: American Market Wide Open for NBEV StockRecently, I interviewed Marty Sumichrast, chairman and co-CEO of cbdMD (NYSEAMERICAN:YCBD). In our long-format discussion, Sumichrast mentioned that the U.S. market is wide open. Furthermore, he argues that Americans prefer CBD to tetrahydrocannabinol (THC)-based botanicals.Combined with the company's impressive array of products, this dynamic places cbdMD in a position to become the dominant CBD brand in the U.S.As a shareholder of YCBD, I wish them well. However, because the U.S. market is so open without an established dominant player, it allows companies like New Age to carve out a niche in a specific sub-segment like CBD-infused beverages. Pros: New Age Beverage Stock Isn't a Pure Cannabis PlayAlthough heavily associated with CBD, NBEV stock isn't purely a CBD investment. And right now, I'd say that fact offers some key advantages.Namely, New Age hasn't followed its cannabis peers in aggressive fiscal maneuvering. Although the company hasn't been profitable in a while, you can clearly see the pathway to eventual profitability. Primarily, NBEV features strong revenue growth and reasonable expenses.Also, New Age has a relatively solid balance sheet, highlighted by nearly $84 million in cash and only $13.4 million in long-term debt. Combined with its long-term capital lease obligations, these liabilities amount to $60.5 million.Simply put, management isn't making wild swings. At this point, that's a positive for NBEV stock. Cons: Legal Uncertainty in U.S. CBD MarketDespite much potential, New Age hasn't yet entered the CBD-infused beverage space in the U.S. Why? Management has blamed a "murky" legal environment.I don't fault them. Under the 2018 farm bill, industrial hemp and hemp-derived products are legal for individuals to purchase. But that doesn't necessarily mean that CBD is legal. After all, cannabis is still considered a Schedule I drug.How do American companies get around this tricky situation? CBD derived from hemp is permissible under the farm bill. However, CBD from any other source -- even if it contains less than 0.3% THC as mandated by the law -- is illegal.Even when you have everything right, CBD laws are still very confusing and perhaps contradictory. Because of this uncertainty, New Age Beverages stock risks losing momentum to competitors. Cons: Too Many AssumptionsAs enticing as CBD beverages are, nobody really knows how the market will respond. Though enticing for those looking for a non-offensive way to enjoy cannabis, CBD-infused drinks could end up becoming a fad.More critically, CBD itself could also become a fad. While I don't think this will be the case, I concede that the medical community is hesitant about endorsing CBD. Further research is necessary for medical professionals to feel comfortable prescribing cannabidiol or other cannabis-based therapies.Until that happens, NBEV stock has a fundamental risk associated with it. Cons: Big-Name CompetitionAs with most good ideas, NBEV isn't the only one pursing cannabis-infused beverages. Several players are involved in the CBD beverage space, most notably the joint partnership between Molson Coors Brewing (NYSE:TAP) and Hexo (NYSE:HEXO).Depending on how popular CBD-infused beverages become, other big players might enter the space. This could either be positive for New Age Beverages stock (i.e., a buyout) or it could be negative. Frankly, if larger players enter the space, they could use their leverage to build out a new brand.Also, the fact that NBEV is stalling in the U.S. market isn't a great confidence booster. Final AssessmentNew Age Beverages stock is a risk, but a compelling one. With the right amount of luck, shares can take off thanks to its powerful CBD brand. And because the U.S. market is ripe for the taking, the possibilities are endless.However, NBEV stock falls short because of the legality issue of CBD. And while I'm enthusiastic about CBD-infused beverages, the industry has question marks about viability.Ultimately, though, a lot of the bad news is baked into the price. If you can stomach the risk, NBEV stock is worth a careful, measured shot.As of this writing, Josh Enomoto is long YCBD and HEXO. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Large-Cap Stocks to Give a Wide Berth * 7 Potential New Stocks That Should Not Go Public * 5 Chinese Stocks to Buy Surging Higher The post 3 Pros, 3 Cons for New Age Beverages Stock appeared first on InvestorPlace.
New Age Beverages' (NBEV) third-quarter 2019 results might reflect gains from buyouts and a robust brand portfolio. However, higher costs might remain deterrents.
While the market driven by short-term sentiment influenced by the accomodative interest rate environment in the US, increasing oil prices and deteriorating expectations towards the resolution of the trade war with China, many smart money investors kept their cautious approach regarding the current bull run in the second quarter and hedging or reducing many of […]
DENVER, COLORADO, Nov. 07, 2019 -- New Age Beverages Corporation (NASDAQ: NBEV), the Colorado-based organic and natural products company, announced that it will hold an.
New Age Beverages Corporation (NBEV), the Colorado-based organic and natural products company, today announced that Julie Garlikov has joined NewAge as the newly appointed Chief Marketing Officer effective November 4, 2019. Ms. Garlikov brings over two decades of senior level marketing experience with world class packaged goods companies to NewAge. Most recently she served as Chief Marketing Officer for Shaklee, a leading natural nutrition company, and just prior was the Vice President and Global Head of Marketing for Rodan and Fields, a leading global skincare company.
CEO Interviews with: NBEV, NGTF News & VIDEO from Investor Conferences: NEXCF, MDCL NEW YORK, Oct. 29, 2019 -- Wall Street Reporter, the trusted name in financial news.
DENVER, COLORADO, Oct. 25, 2019 -- New Age Beverages Corporation (NASDAQ: NBEV), the Colorado-based organic and natural products company, today announced the launch of the.
While New Age Beverages Corporation (NASDAQ:NBEV) shareholders are probably generally happy, the stock hasn't had...
If misery loves company, then Aurora Cannabis (NYSE:ACB) shareholders are far from alone. While marijuana stocks like ACB were soaring earlier in the year, several marijuana-related headwinds and dulling hype have since sent many of these stocks downward. But if new investors want to brave the risk and allow ACB stock to grow in their portfolio, a risk-adjusted long position in shares needs to be properly cultivated first.Source: Shutterstock From the largest producer Canopy Growth (NYSE:CGC) to a smaller and promising niche player like New Age Beverages (NASDAQ:NBEV), a risk-off attitude toward this emerging-but-still-very-dicey market has been pervasive.And Aurora stock has proven no exception to this pain.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt's also true that the loss in ACB stock's value hasn't been without justifiable cause either. Last month's worse-than-forecast quarterly results failed to deliver anything other than more supportive ammo for ACB bears. That's because it's hard for Aurora to be a winner right now. Given the difficult regulatory environment for the cannabis market -- one that also increasingly faces oversupply problems -- rising costs and lower margins, it's no wonder Aurora hasn't been able to stand up straight lately.Adding more pressure to Aurora Cannabis stock is the fact that one of its peers, Hexo (NYSE:HEXO), recently announced an revenue warning and guidance retraction and continued push-back toward cannabis due to vaping fatalities. All of these problems could reflect future struggles for ACB's business as well.And, looking at the stock chart below, we can clearly see the toll this decisively bearish sentiment has taken on Aurora stock. ACB Stock Monthly Chart But before we jump on the bearish train, it's important to take a closer look at the bigger picture in Aurora Cannabis.Although I've said it before, it's still very relevant to ACB stock and prospective ACB investors: Most of the market's greatest and most legendary investments, from Coca-Cola (NYSE:KO) to Apple (NASDAQ:AAPL) or Amazon (NASDAQ:AMZN), have had their own periods of overenthusiastic sentiment eventually getting the best of investors. * 10 Stocks to Sell Before December's Meltdown To that end, Aurora stock can't just be written off. But buying shares today isn't advised.Right now, ACB stock is controlled by bearish operators. Following September's post-earnings breakdown of the 62% level and trendline support, shares have cratered by roughly 35%. Most recently, the pressure has forced a combined failure of 2018's bottom and 76% support. And as bad as that is, it could get a good deal worse.There's little to suggest Aurora Cannabis stock price's bearish trend can't continue toward the 2017 low of $1.38. This marks the Fibonacci cycle low detailed on the monthly chart above. It's an important level to consider. Specifically, it's the bottom for shares following Wall Street's enthusiastic introduction to ACB stock in late 2016.Ultimately, there's no reason to start cherry picking for a bottom in ACB. Even an accumulation strategy could prove very painful if shares continue to trend lower toward a full 100% retracement.It's simply too early to know what will happen to Aurora Cannabis stock here.Therefore, my recommendation is to allow a confirmed candlestick reversal pattern and bullish stochastics crossover to be in place on the monthly chart before considering a purchase of ACB stock. In my view, this approach won't buy the absolute bottom.More important, the approach stands a much stronger chance of cultivating longer-term profits if history repeats itself or simply rhymes in a good way.Disclosure: Investment accounts under Christopher Tyler's management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional options-based strategies and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell Before December's Meltdown * 7 Software Stocks to Buy for Growth * 3 Large-Cap Stocks to Buy After Earnings The post Aurora Cannabis Stock Is Still Not Worth a Buy appeared first on InvestorPlace.
Probably no other stock reacts to positive headlines more than New Age Beverages (NBEV - price target), yet the stock trades at yearly low. The company remains highly promotional of future opportunities without necessarily delivering on those plans. The latest example again hurt retail investors that over reacted to the headlines.Nestea TweetOn October 16, New Age Beverages tweeted that “big news” was on the way with Nestea. The market naturally jumped on the concept that the news was somehow related to a new CBD drink with Nestea owned by Coca-Cola.While a CBD deal with Coke would be a potential game changer, investors should carefully trade any headlines not backed by actual results and performance. The company followed the next day with a tweet that Nestea Instant Sweet Iced Tea Mix was back.The stock soared nearly $1 or 31% to $3.59 on the initial tweet. Clearly, an ice tea mix was not what any investor would consider as “big news.” The stock closed on October 17 at $2.82 for a minimal gain from this headline grabbing tweet.History Of Missing TargetsAn investor reaching for major news from New Age Beverages was burned yet again. The stock reached nearly $8 in February on CBD hype despite the company never living up to expectations.The stock is now trading slightly above the 52-week low of $2.57 so investors should consider all of the other products promised as game changes that haven’t helped the business or the stock. One only needs to go back to the recent announcement of CBD approval in Japan or the previous Walmart (WMT) deal all burned investors falling for the headline hype while the actual results of the business missed targets.On September 24, New Age announced the Japanese Narcotics Control Division and the Japanese Ministry of Health had approved the launch of CBD products in Japan. The stock jumped to $3.39 on the news before dropping to the 52-week low within about a week on October 2.Back on April 8, the stock surged on news of an expanded distribution deal with Walmart. The large retailer agreed to distribute their Marley brand causing the stock to soar to $6.69. Within a month, New Age was trading back into the $4s before collapsing further into the $2s.During this process, the company has a long history of missing estimates. The Morinda deal was promoted as creating a business with substantial EBITDA profits, but analysts now forecast New Age losing money in both 2019 and 2020.The original 2019 revenue estimate surrounding the merger was $320 million. Now, despite the expanded distribution deal with Walmart and other retailers, analysts estimate revenues for the year down at only $274 million.TakeawayThe key investor takeaway is that New Age Beverages has a history of announcing major deals and big news that doesn’t always come to fruition. The bottom line is that investors should avoid this stock on any hype, especially around CBD beverages, until the company more consistently beats financial targets and more accurately reflects actual big news within press releases and social media.To find good ideas for cannabis stocks trading at fair value or better, visit TipRanks’ Best Stocks to Buy, a newly launched feature that unites all of TipRanks’ equity insights.Disclosure: No position
New Age Beverages Corporation (NBEV), the Colorado-based organic and natural products company, today announced the expansion of their partnership with Nestle, including the broadening of their license agreement on NESTEA to now include all products under the brand, including NESTEA Powdered Tea products in the United States. As a result, New Age is launching NESTEA Powders immediately in its e-commerce system, targeting its current database of more than 1,000,000 consumers, and with major retailers through the United States. NESTEA Powdered Tea has historically generated sales at retail of more than $30 million.
Investors need to pay close attention to New Age Beverages (NBEV) stock based on the movements in the options market lately.
Today, New Age Beverages Corporation (NBEV) announced that it would launch its CBD (cannabidiol) based products. Share prices jumped by 14.96% to $3.20.
According to the Wall Street Journal a hedge fund that was an early investor in Juul recently wrote down its stake in the company to value Juul at just $24 billion dollars, a 35% drop from the $38 billion dollar valuation the company boasted just about a year ago when tobacco giant Altria paid up for a minority stake in the vaping giant. Yahoo Finance's Zack Guzman and Emily McCormick discuss with Barron's Senior Writer Alexandra Scaggs.