had same issue here on Virtue theme.
long story short, the action that the plugin relies is commented on Virtue theme. you can find it simply on your theme \woocommerce\content-product.php
search for //do_action( 'woocommerce_before_shop_loop_item_title' );
when you uncomment it your page will look like scrabled eggs, so add the following css - customize it as you wish
padding: 5px 10px;
note - that action is probably commented for a reason. many plugins may actually use it. so it can be a bad idea to uncomment it. or a good one who knows.
what i suggest is that you guys add your own action e.g. woocommerce_before_shop_loop_badge. will will also need to modify the plugin file new-badge.php around line 40 for
add_action( 'woocommerce_before_shop_loop_badge', array( $this, 'woocommerce_show_product_loop_new_badge' ), 30 );