Boston Beer (NYSE:SAM) Shares Gap Down – Here’s What Happened

The Boston Beer Company, Inc. (NYSE:SAM)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $301.26, but opened at $294.05. Boston Beer shares last traded at $282.56, with a volume of 14,523 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Piper Sandler boosted their target price on Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Roth Mkm reissued a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. Needham & Company LLC started coverage on Boston Beer in a report on Friday, December 6th. They set a “hold” rating for the company. Finally, UBS Group boosted their price target on Boston Beer from $300.00 to $309.00 in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $314.82.

Boston Beer Price Performance

The firm’s 50 day moving average is $308.12 and its two-hundred day moving average is $291.19. The firm has a market capitalization of $3.33 billion, a P/E ratio of 42.68, a PEG ratio of 1.21 and a beta of 1.07.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SAM. First Horizon Advisors Inc. lifted its stake in Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd raised its stake in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 34 shares during the period. GAMMA Investing LLC lifted its position in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after buying an additional 48 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Boston Beer during the 3rd quarter worth approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Boston Beer during the 3rd quarter worth approximately $49,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.

About Boston Beer

The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.