SBEV - Shares Of This Beverage Company Caught Premarket Bid

2023-06-27 09:08:14 ET

A Fort Lauderdale-based beverage company is turning heads Tuesday morning after it was announced that Roth MKM initiated coverage on the stock with a buy rating and a $3 price target.

Traders were quick to bid up shares of %SplashBeverageGroup (NYSE: ) seeing that shares of this micro cap closed at just $0.97/share yesterday, leaving a lot of upside between current levels and the recently established price target. Shares are currently bid up at $1.01/share (+4.12% implied open for sellers) at the time of writing.

Splash Beverage Group Inc specializes in manufacturing, distribution, and sales & marketing of various beverages across multiple channels. SBG operates in both the non-alcoholic and alcoholic beverage segments. The company's operations has its own vertically integrated B-to-B and B-to-C e-commerce distribution platform called Qplash, further expanding its distribution abilities and visibility. Its brands include TapouT and Salt Tequila. The company operates in two segments: Splash Beverage Group and E-Commerce.